United States Trust Law

Perils of letting patriarch hold all the assets

Trusts have many uses, even in a low-tax regime like Hong Kong. They can be effective for long-term wealth planning and can provide assurance that assets and wealth will pass intact to the next generation.

Sunday, 22 April, 2012, 12:00am

Law change delay costs HK millions

Delays in modernising Hong Kong's trust ordinance could be losing the city millions of dollars in professional fees and services, according to the Hong Kong Trustees' Association.

'The delay is very concerning because we are losing a lot of business to Singapore and Malaysia at a time when we should be attracting business,' says association chairman Carolyn Butler.

23 Oct 2011 - 12:00am

Ensuring a smooth transition

Many of the new class of high-net-worth individuals, created by the Asian economic boom, are all too aware of the historical examples which show one generation of a family making a fortune, the next spending it, and the third having to start all over again.

20 Apr 2008 - 12:00am

Keeping crucial assets all in the family

Increasing number of high-net-worth individuals are preparing early with special solutions for a smooth transfer of wealth to relatives

Private trusts are growing in popularity and many people consider them an ideal way to retain greater control over their assets while maintaining the integrity and validity of the trust structure.

23 Oct 2007 - 12:00am