How Much Does a Cook Islands Trust Cost? – Offshore Asset Protection

A Cook Islands trust is one of the strongest asset protection tools available. Here’s a concise overview of how much it costs to set up a Cook Islands trust.

Cost to Set Up a Cook Islands Trust

The initial setup cost of a Cook Islands trust ranges from $15,000 to $30,000. The cost depends on the complexity of the trust and the experience of the attorney. Trustee fees can range from $3,000 to $8,000 annually.

Ongoing Costs and Maintenance

Besides the setup costs, there can be ongoing fees associated with maintaining a Cook Islands trust. These fees cover the trustee’s management of the trust assets, legal fees for periodic reviews of the trust structure, and various banking and transaction fees.

Is a Cook Islands Trust Worth the Cost?

A Cook Islands trust offers strong protection from future creditors and legal claims However, the trust’s offshore nature means relinquishing some control over your assets to a trustee in a foreign jurisdiction, which might not be comfortable for everyone.

A Cook Islands trust is not usually worth it unless you will be transferring $1 million or more in cash and securities.

Is It Right for You?

Deciding whether a Cook Islands trust is suitable for your situation involves weighing the level of asset protection needed against the costs and potential discomfort of managing assets in a foreign jurisdiction.

High net-worth individuals, those in high-risk professions, or individuals with substantial estate planning needs often find these trusts beneficial. However, everyone’s situation is unique.

About the Author

I’m an attorney who specializes in asset protection planning. I graduated with honors from Emory University Law School and have been practicing law for almost 15 years.

I have helped thousands of clients protect their assets from creditors. Before private practice, I represented the federal government while working for the IRS Office of Chief Counsel.