The new law abolishes the common law “rule against perpetuities”. This means that a “dynasty” trust can now be established in the Cook Islands. Thus, you can establish a trust in the Cook Islands which will continue indefinitely.
With this issue we begin a periodic review of selected offshore jurisdictions. These reviews will cover such factors as the legal system, the geographic location, communications facilities, availability of professional services, and other items we deem pertinent.
Selecting the jurisdiction in which the Asset Protection Trust (“APT”) will be located is a very important step. Consideration must be given to a number of factors at that location.