Cook IslandsComparison of Offshore Trusts Jurisdictions
| Wealth Protection: Specific Provisions |
Bahamas |
Belize |
Bermuda |
Cayman
Islands |
Cooks
Islands |
Gibraltar |
Jersey |
Turk &
Caicos |
| PROTECTION OF SETTLOR: |
| Settlor can be a Beneficiary |
yes |
yes |
yes |
|
yes |
|
yes |
|
| Retention of control by Settlor |
|
yes |
|
|
yes |
|
|
|
| Protection from subsequent bankruptcy |
|
|
|
|
yes |
yes |
|
yes |
| PROTECTION OF BENEFICIARY: |
| Spendthrift beneficiaries provisions |
|
yes |
|
|
yes |
|
yes |
|
| Avoidance of forced heirship |
yes |
yes |
|
yes |
yes |
|
|
yes |
| PROTECTION FROM FOREIGN JUDGEMENTS: |
| Specific non-recognition provisions |
|
|
|
|
yes |
|
|
|
| Is the Hague Convention applicable? |
no |
|
|
|
no |
|
|
no |
| PROTECTION FROM CREDITORS: |
| Exclusion of Statute of Elizabeth laws |
yes |
|
|
yes |
yes |
yes |
|
|
| Trust invalid if transfer fraudulent |
|
|
|
|
no |
no |
|
|
| Creditor must prove fraudulent transfer |
yes |
|
|
yes |
yes |
|
|
yes |
| Clear definition of fraudulent transfer |
|
|
|
|
yes |
|
|
|
| Separation of creditor claims |
yes |
|
|
yes |
yes |
yes |
|
yes |
| Statutory limitation on fraudulent transfer |
yes
(2 yrs) |
|
yes
(6 yrs) |
yes
(6 yrs) |
yes
(1 yr) |
|
|
|
| OTHER ISSUES: |
| Retroactive protection for immigrant trusts |
|
|
|
|
yes |
|
|
|
| Community property provisions |
|
|
|
|
yes |
|
|
|
| Specific exclusion of foreign law |
yes |
|
yes |
yes |
yes |
|
|
|
| Choice of law is binding |
yes |
yes |
|
yes |
yes |
yes |
yes |
yes |
| Custodian trustee permitted |
|
|
|
|
yes |
|
|
|
|