The fact that artists generally give very little consideration to proper estate planning can affect the value and the marketability of a single piece of art or an entire art collection thought their own lives
read moreAll family assets – including Trusts – held in Hong Kong and overseas are normally considered part of the ‘matrimonial pot’ in divorce proceedings
read moreHong Kong has been experiencing a boom of family offices, further incentivised by tax breaks or residency options. It is indeed a very efficient Wealth Planning tool for HNWI.
read moreTransitioning ownership and control to the next generation is only one of the hurdles for many family business owners in succession planning
read moreIt is reassuring for settlors to know that the Hong Kong courts hold professional trustees to a very high standard when exercising their fiduciary duties. Strong protection from the courts may be another reason why professional trustees may be preferred.
read moreIf you would like to carry on your family business for successive generations and you feel that the retention of such shares is of utmost importance and that you do not want a third-party trustee to interfere with the management of the business, then a PTC or a VISTA Trust may be the solution for you.
read moreThe major hurdle is finding the right trustee since there is no standard answer as the wishes of the settlor, family circumstances and asset picture or holding structure can all affect the choice of trustee.
read moreThere are different types of trusts for different purposes depending on the settlor’s needs and goals, while the essential characteristic of all trusts is the separation of legal and beneficial ownership.
read moreIn the modern days when even chivalry has been pronounced dead by many, trusts remain relevant, especially for those who wish to protect family wealth and plan for succession.
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