“It depends” is the stereotypical answer to receive from a lawyer. I’d give that answer when asked about the cost of a Cook Island trust. What if you called a car dealership and asked “how much is a car?” That would depend on what type of car you’re looking for. You could spend $100k+ on a sports car. Or you could spend less than $10k on a tiny little subcompact car.
The same can go for trusts. You can have a very comprehensive wealth management trust with tax savings provisions. Or you could have a very basic trust with many of those luxury features stripped out of it. You can hire a licensed, insured US attorney to help establish your trust. Or you could hire a disbarred attorney who previously defrauded his clients to help set up your trust.
(Read more about how offshore trusts work)
All of those options can determine the cost to set up a Cook Island trust.
Hiring a US attorney to set up your Cook Island trust can range from $15,000-$50,000. I currently see an average range between $25,000-$35,000 for a comprehensive trust. Hiring a non-attorney or anonymous person behind a website can bring that range down to $5,000-$10,000.
Part of the costs to set up a Cook Island trust will include a government registration fee and the fees for a trust company to administer your trust.
Colin Ley is an asset protection attorney and the creator of the PREP Trust® and Better LLC™. He is also the co-founder of LayRoots (along with with partner in life & business – Shreya Ley)
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