Practice Areas
Off-Shore Trust or LLC
For doctors, dentists, and others in high risk professions, it is important to know the asset protection benefits of a Nevis LLC, Cook Island Trust, or both. Let’s take a look at each.
Nevis Island LLC
An increasingly popular off-shore jurisdiction is Nevis Island, since it has enacted strong LLC laws similar to our Florida statute. To attack an interest in a Nevis Island LLC, a creditor has to go to a Nevis court to get a charging lien. It is unclear whether a Nevis Court would even recognize a Florida judgment: officials in Nevis have told me they know of no instance where a U.S. creditor has obtained a charging lien in Nevis to enforce a U.S. judgment.
Using a Nevis LLC, you can retain control of your assets as the LLC manager. You can invest anywhere in the world. You can use a Nevis LLC to hold your U.S. bank accounts, or if you like, you can invest in a Swiss or London bank, or any bank in the world.
So where is this place? Nevis Island is located southeast of the Virgin Islands. It is part of the Federation of St. Kitts and Nevis. It is an active member of the British Commonwealth and United Nations. It has a stable democracy based upon British law.
Cook Islands Trust
In 1984 the Cook Islands ushered in the modern asset protection era, and has remained the premier jurisdiction. The highest quality of asset protection is probably a combination of a Nevis Island LLC and a Cook Islands Trust. The Nevis Island LLC would have a pull-the- plug provision that would transfer assets to the Cook Islands. Properly structured and administered, no court in the United States will have power to undo the plan. The Cook Islands are a cluster of 15 islands located northeast of New Zealand. They are a self-governing parliamentary democracy in free association with New Zealand.
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Rarick, Beskin & Garcia Vega, P.A. has assisted Florida families and business persons for over 17 years. Our firm has worked with over 400 similar law firms located in states outside of Florida to represent their clients in legal matters concerning Florida probate, estate planning, and asset protection. To schedule a meeting, call (305) 556-5209 or (954) 566-1151, or email info@raricklaw.com. We look forward to meeting you!
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