Podcast Summary: Offshore Asset Protection Lawyer Explains Cook Islands Trusts ft. Blake Harris

Coffeez for Closers with Joe Shalaby
Date: February 20, 2026
Host: Joseph Shalaby
Guest: Blake Harris, Asset Protection Attorney

Episode Overview

In this engaging episode, Joseph Shalaby interviews Blake Harris, a leading offshore asset protection attorney, about the intricacies and advantages of Cook Islands trusts and global asset protection strategies. The conversation covers practical aspects of asset protection, debunks common myths, explores ethical concerns, and highlights Blake’s journey building a world-class legal brand. Targeted at entrepreneurs and business leaders, the episode delivers actionable insights, memorable stories, and professional wisdom in a relaxed, yet deeply informative tone.

Key Discussion Points & Insights

The Need for Asset Protection

• Who Needs Asset Protection?

  • Anyone with meaningful assets in the U.S. becomes a potential lawsuit target, not just the ultra-wealthy.
    • “The biggest misconception in the asset protection world is that asset protection is only for the super wealthy. And that’s very far from true.” – Blake Harris [01:40]
  • Most clients have $1–10 million; some less, some significantly more.

• When Should Asset Protection Planning Begin?

  • Start when net worth exceeds $1 million, or sooner if in a high-liability profession (doctor, attorney, business owner, parents of teen drivers).
    • “Once your net worth gets to be one or two million dollars or more, it’s definitely wise to do something.” – Blake Harris [04:23]

Domestic vs. Offshore Trusts

• Cost & Control:

  • Domestic trust: lower setup cost ($10–$30k) but can be broken by U.S. courts.
  • Offshore trust (Cook Islands, Nevis, Belize): higher cost ($25–$50k, typically $30k at Blake Harris Law), but far more effective against U.S. legal actions.
    • "One of those trusts... can be broken by a U.S. Court. The other trust cannot." – Blake Harris [02:48]
    • “If you can tell a plaintiff attorney that your assets are controlled by a foreign trustee... the assets are not going to be touched. You’re going to have a plaintiff attorney who’s much more willing to either drop their case entirely or take your settlement offer.” – Blake Harris [03:31]

• Psychological & Negotiation Value:

  • Offshore trust brings peace of mind and powerful leverage in settlement negotiations, often discouraging frivolous suits altogether.

How Offshore Protection Works

• Structure:

  • Trust typically registered in the Cook Islands (most protective jurisdiction), with funds often held in a Swiss account.
  • Clients may invest in a variety of assets: “stocks, bonds, gold, silver, cryptocurrency.”
  • The process takes about 60 days (30 for trust, 30 to move assets open accounts).
    • "The trust would be registered in the Cook Islands, the safest jurisdiction for an asset protection trust. And then the money will be held in Switzerland, which is the safest place that Americans can routinely open a bank account..." – Blake Harris [12:55]

• Transparency & Compliance:

  • No tax benefits, but also no tax penalties.
  • All structures reported to IRS and FinCEN; full legal compliance.
    • “The trust itself is tax neutral. It does not increase tax liability. It does not decrease.” – Blake Harris [13:44]

Addressing Misconceptions & Ethics

• Not Just for the Ultra-Wealthy:
  • The real risk is for entrepreneurs, mid-level millionaires, high-liability individuals.
• Not Illegal or Shady:
  • Offshore asset protection is completely legal and reported.
  • “Hiding from the IRS” is a myth; everything is fully transparent.
    • "I don't buy this belief that being weak and unprotected is honorable. I think just the opposite. Good people... make themselves as strong and as protected as possible." – Blake Harris [11:39]
    • "Everything we do, we report to the IRS. ...There's nothing illegal and it's far from unethical." – Blake Harris [12:28]

Building a Brand & Global Mindset

• Importance of Branding & Network:

  • Blake’s global travels, social media presence (hundreds of thousands of followers, millions of views), and relentless networking have created professional opportunities and the largest “Rolodex” in the industry.
    • “A big part of the reason clients choose to work with us is because of the network that we have...” – Blake Harris [07:33]

• Thinking Globally:

  • "The entrepreneurs who are going to be the most successful in the decades to come think globally for the solutions to their problems. And that’s very much what we do." – Blake Harris [08:58]

Success Stories & Memorable Moments

• The $12 Million Asset Saved Story [16:16]

  • Client sold a trucking company, put $12M into a Cook Islands trust. When sued by the buyer, the plaintiff settled for ~$150,000 instead of $12 million.
    • “Once we revealed that the client had all their funds inside of a Cook Islands trust... the plaintiff agreed to settle the case for somewhere around $150,000, pennies on the dollar.” – Blake Harris [16:16]

• Why Revocable Trusts Don’t Protect Against Lawsuits

  • Revocable trusts offer no asset protection during the grantor’s lifetime—courts can order assets surrendered.
    • “A court could have ordered the client to revoke the trust and hand over the assets.” – Blake Harris [17:22]

Crypto Asset Protection & Emerging Trends

• Blake’s Firm as Pioneer:
  • Claims to do more crypto asset protection trusts than the rest of the industry combined.
  • Offers multiple ways to secure crypto, from self-custody to third-party/vault solutions in favorable jurisdictions.
    • "Finding partners who are willing to hold crypto is something that we have put a lot of effort into at my firm." – Blake Harris [22:58]

Corporate Strategies & Lean Operations

• For Businesses:
  • Either place the company directly in a trust or operate “lean and mean”: extract and protect as much capital as possible outside the business.
    • "Deplete the cash on hand, remove hard assets, and make it as thinly capitalized as possible. Run your business lean and mean." – Blake Harris [26:21]

Trust, Process & Experience

• Client Experience:

  • High-touch, approachable, and responsive.
  • Thorough vetting of international partners (gut instinct, reputation, responsiveness).
  • Process for setting up a trust takes 60 days total [20:56].

• Approachability:

  • Blake balances seriousness with approachability, favoring comfort and candid discussion over “stuffy” formality.
    • “I also... don't consider myself a very stuffy person. I am very laid back in how I communicate with clients because that's who I am. Also, it gives clients a lot of confidence.” – Blake Harris [19:26]

Maintaining Integrity & Legacy

• Values:
  • Integrity is central to the brand: “When we say we're going to do something, we're going to do it... our word is golden.” [34:46]
• Personal, Business, Family Goals:
  • Foster open relationships with children as they mature [34:46].
  • Grow business without compromising excellence.
  • Personal goal: Improve Muay Thai skills, continue to enjoy work and life.
• On Family:
  • Involvement and exposure—kids travel with him, learn independence, see role modeling of hard work and balance.
    • “I just let them kind of lead the way because I want them to get comfortable figuring out things on their own.” – Blake Harris [32:48]

Notable Quotes & Memorable Moments

On Asset Protection for Non-Billionaires

“The biggest misconception in the asset protection world is that asset protection is only for the super wealthy. And that’s very far from true.”
— Blake Harris [01:40]

On Offshore vs. Domestic Trusts

"One of those trusts... can be broken by a US Court. The other trust cannot."
— Blake Harris [02:48]

On Peace of Mind

"Even before negotiation begins, even before a lawsuit has been brought, it brings peace of mind and that there is very valuable..."
— Blake Harris [04:00]

On Ethics in Asset Protection

"I don't buy this belief that being weak and unprotected is honorable. I think just the opposite. Good people... make themselves as strong and as protected as possible."
— Blake Harris [11:39]

On Global Solutions

"The entrepreneurs who are going to be the most successful in the decades to come think globally for the solutions to their problems."
— Blake Harris [08:58]

On the Power of Network

"A big part of the reason clients choose to work with us is because of the network that we have..."
— Blake Harris [07:33]

On Success Story

“Once we revealed that the client had all their funds inside of a Cook Islands trust... the plaintiff agreed to settle the case for somewhere around $150,000, pennies on the dollar.”
— Blake Harris [16:16]

On Reporting & Compliance

"Everything we do, we report to the IRS. ...There's nothing illegal and it's far from unethical."
— Blake Harris [12:28]

On Purpose and Peace of Mind

"If we don't live a life of purpose, like, what's the point, right? ...and a life with peace of mind too."
— Blake Harris [18:02]

On Raising Resilient Kids

"I just let them kind of lead the way because I want them to get comfortable figuring out things on their own."
— Blake Harris [32:48]

Important Timestamps

• Introduction, morning routine: [00:24 – 01:30]
• Who needs asset protection?: [01:30 – 02:33]
• Domestic vs. offshore trusts: [02:33 – 04:17]
• Cost discussion: [05:25 – 06:19]
• Brand and social media impact: [06:19 – 08:36]
• Global mindset, legal limitations U.S. v. offshore: [08:58 – 10:08]
• Transparency and ethics: [10:19 – 13:39]
• Taxes and IRS reporting: [13:39 – 14:58]
• Success story: $12 million protected: [16:16]
• Crypto asset protection: [22:39 – 24:16]
• Corporate strategies: [25:01 – 27:39]
• Process of setting up a trust: [20:56 – 21:55]
• Vetting international partners: [29:20 – 30:41]
• Personal and family goals: [34:46 – 38:33]
• Final reflection on legacy: [38:40]

Conclusion

This episode provides an accessible yet comprehensive education on offshore asset protection, debunking myths and illuminating both the strategy and ethics of moving assets abroad. Blake Harris delivers clear, relatable advice for entrepreneurs and business owners, shares real-life war stories, and underscores the value of having global solutions and networks. The episode stands out for its balance of practical detail, personal philosophy, and approachable expertise.

Find Blake Harris:

• Website: blakeharrislaw.com
• Social: @blakeharrislaw (Instagram, TikTok, X, Facebook)
• Phone: 833-ASK-BLAKE