As that wealth grows, so does the importance of thinking about long-term asset protection, succession planning and managing legal risk.” Smith says offshore asset protection structures are far more common in the United States than in countries with less aggressive civil litigation systems. “The key point is that asset protection planning needs to happen before there is a dispute,” Smith says. The Cook Islands became internationally recognised for asset protection trusts after introducing specialised legislation in the late 1980s. Arand says Southpac Group also uses Nevis, a Caribbean jurisdiction known for its protective company legislation, as part of some international asset protection structures.