All family assets – including Trusts – held in Hong Kong and overseas are normally considered part of the ‘matrimonial pot’ in divorce proceedings
Hong 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.
Through proper Estate Planning same-sex couples can enjoy nearly similar benefits as other couples in Hong Kong, and their children can be suitably protected.
Transitioning ownership and control to the next generation is only one of the hurdles for many family business owners in succession planning
Valuation of artworks is the first step that an investor should think about as it has deep consequences in wealth and estate planning, as well as in case of future divorce proceedings.
Advantages of Hong Kong as an Art Trading Hub and the Growth of Cryptocurrencies in Artwork Transactions
A brand-new interest in art as an asset class has pushed growth in the Chinese art market and High Net Worth Individuals in China have begun to invest in art as an asset
If 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.
The 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.
What happens to virtual currencies once the owner has passed away? Is an individual able to distribute such assets if he wishes to do so through his will?
If you want a proper way to plan for your succession and ensure your loved ones are looked after in your absence, you need a Will.