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Quick distribution of wealth is a key consideration

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Why you can trust SCMP
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High-net-worth individuals with assets spread over multiple jurisdictions may have unique needs when setting up a trust structure.

The most efficient and effective way to protect their business in Hong Kong, or a golf course villa on the mainland, penthouse apartment in London and money in several private banks worldwide is to consolidate them all in a simple trust structure that will help their beneficiaries when the time comes.

A trust structure can avoid long, drawn out and complex probate procedures.

It also ensures that through the trustee immediate distributions can be made on the death of the settlor to enable family members to continue their lives uninterrupted by the loss of income or other financial support.

In addition, there is now an increasing recognition in Asia of the need for long-term asset protection for future generations, according to Alan Johnson, managing director of wealth advisory firm Intertrust Group.

'Once an individual places their assets in a trust and a certain period of time transpires, the creditors of the settlor can't claim those monies back.

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