In this article from #StepJournal Issue 1 2022, Reuben Tylor, Director at Trustees & Fiduciaries (Cook Islands) Limited provides a succinct summary regarding this innovative new law.
The Act gives planners a new tool with which to protect the assets of HNW families. It creates a legislative regime that reinforces traditional concepts of trust law while complying with principles of matrimonial property law, which allow parties to enter into agreements addressing property rights in the event of their divorce.
In 2020, Reuben worked with prominent US-based foreign trust specialist, Elizabeth Morgan to develop the concept of the Relationship Property Trust and after its approval by the government of the Cook Islands, worked with New Zealand parliamentary draftsmen to produce the International Relationship Property Trust Act (2021).
Read the full Article here >> https://www.step.org/sponsored-content/new-initiative-trust-law