Rethinking how to protect confidentiality and privacy
The international push for transparency means that the concepts of confidentiality and privacy are fast disappearing. But this raises questions about whether individuals' data is going to be secure, according to Sean Coughlan, managing director, and Karen O'Hanlon, director of client services at Asiaciti Trust Singapore.
Realistic thinking: the future of family wealth
Valerie Wu, partner at Lee & Lee, describes how families in Asia are coming to terms with the fact that they must make proper provision for what will happen to their wealth - and the family business - in the long-term.
Priorities for South-East Asian clients transitioning family wealth
Woon Hum Tan, partner & head, trust, asset & wealth management practice at Shook Lin & Bok LLP in Singapore, outlines what's important to South-East Asian families wanting to preserve the family assets for future generations - and the issues these clients often overlook.
Planning for the succession of BVI-based assets
Many Asian clients have shares in BVI companies - but some are not aware of what will happen to those assets in the event of their death, says Paul Christopher, managing partner, Hong Kong at Mourant Ozannes. Implementing a proper succession plan is highly advisable.
How families with US links can manage the tax burden
Many families in Asia have connections with the US, and therefore face various tax obligations, according to Kurt Rademacher, director, international tax practice, and Brad Westerfield, partner, tax group, at Butler Snow. These families can organise their finances to minimise the tax burden - but this must be done carefully, and in line with the rules.
Why Hong Kong's new trust law will lure new business
William Ahern, principal, Family Capital Conservation, explains how the recently announced changes to Hong Kong's trust law will bring more trust business to the jurisdiction in the months ahead.
Dealing with trust-related disputes
When settlors of trusts pass away, trustees carefully consider settlors' wishes. Ian Mann, partner, Harney Westwood & Riegels, explains why it is common for disputes to arise between beneficiaries and trustees - and how such disputes can be avoided.
Dawning of reality - the need for wealth planning
Tan Li-Lee, local head of private client and trusts for Asia at Appleby, highlights the various reasons why more and more wealthy individuals and families across Asia are looking into setting up structures - and what they hope to achieve in doing so.
A shake-up and wake-up in the offshore world
Martin Crawford, chief executive officer of Offshore Incorporations Limited, reveals how 2013 has seen significant changes in terms of the preferred jurisdictions for setting up offshore structures, and also clients' motivations for doing so.
How Indonesian clients can preserve family wealth
Marcus Dearle, partner and office managing director Asia at Withers, based in Hong Kong, explains how Indonesian families are looking for ways to protect and preserve the wealth they have worked hard to accumulate.
Considerations for clients when engaging third parties
Marcus Leese of Ogier outlines the things clients should consider before engaging a third party professional services provider - emphasising the importance of communicating what it is the client wants to achieve.
Meeting clients' planning and structuring needs
Britta Pfister of Rothschild outlines the key issues faced by wealthy clients today - and how regulatory initiatives can help firms move away from "productisation" and towards providing solutions that really meet their clients' needs.
The cost of compliance today
Angelo Venardos outlines the 3 major regulatory issues and associated costs firms face today, and underlines the importance of demonstrating to clients why they must pay a premium for good service.
What it takes to run a successful trust business
Alan Taylor of EFG Trust explains why it is beneficial for banks to offer wealth planning services, and what it takes to run a successful trust business today.
Bringing value to families in Asia
Mark Smallwood of Deutsche Asset & Wealth Management articulates what constitutes a successful wealth planning offering, and explains that it is sometimes necessary to engage specialists from outside of the bank.
The rise of high-end insurance in Asia
The high-end insurance market has grown and matured significantly over the last 10 years. Wealthy clients today are very aware of the impact that swings in the financial markets can have on them as individual investors - and are therefore turning to solutions such as high-end insurance as a risk mitigating instrument, says Martin Wong, general manager, South-East Asia at Jardine Lloyd Thompson.
Dealing with BVI assets in a person's estate: what you need to know
Omonike Robinson-Pickering of Walkers describes the documentation that may be required in order to deal with BVI assets in a person's estate, how the process may differ depending on the type of will or trust in place, and what executors and administrators need to beware of.
What's on the cards for wealth planners in Hong Kong?
As the wealth in Asia matures, there's a growing need across Asia for holistic wealth planning. But activities that involve dealing with families and investigating their problems require time. And as most banks don't attach a fee for wealth planning services, finding ways to monetise that time can be a challenge. These were some of the views of leading wealth planners in Hong Kong at Hubbis' wealth-planning focused roundtable in early October.
What it takes to be a world-class trustee
Understanding clients' needs and giving advice that is in the best interests of the individual are imperative if trustees want to build deep and long-lasting relationships with clients and their families, says Melanie Rihoy, who oversees Hong Kong and Singapore at Nerine Trust.
Readying for the transmission of wealth in Asia
Nigel Rivers of TMF Group outlines some key areas that UHNW individuals should - but often fail - to consider in relation to the transfer of wealth from one generation to the next.
What happens to BVI company shares after the shareholder's death
Omonike Robinson-Pickering of Walkers explains the processes that take place when somebody dies and leaves behind shares in a BVI company, outlining the consequences of not having the right succession plans in place - particularly in situations where the deceased is the sole shareholder in the company.
What to do with BVI assets in a person's estate: an introduction
Omonike Robinson-Pickering of Walkers gives an introductory overview of the steps that administrators, executors, and family members should take when dealing with a deceased person's estate that includes BVI property.
Assessing the role of independent trust providers
While bank-owned trustees are the preferred choice among many wealthy clients in Asia, getting the optimum structuring solution might involve using an independent provider, said industry experts at a Hubbis roundtable discussion in Singapore in early October.
Bank-owned trust companies: creating a model that works
Wealth planning experts at a Hubbis roundtable discussion in Singapore in early October questioned the role that bank-owned trust businesses should play in advising on certain issues relating to family wealth, as well as the types relationships they should have with the families.
Singapore: a leading centre for structuring?
Hubbis' recent wealth planning roundtable discussion in Singapore in early October - which brought together senior practitioners from private banks, trust companies and law firms - debated the future of the wealth structuring industry in Singapore, including how firms can take advantage of the abundant opportunities Asia's wealth represents.
What today's regulatory environment means for trustees
Sweeping changes to tax legislation, along with the global push for automatic exchange of information, have had significant implications for firms and individuals in the fiduciary industry. The large number of legacy trusts set up before reforms were introduced now represent a concern for many players, explained wealth planning practitioners at a Hubbis roundtable discussion in Singapore in early October.
How to make the most of trusts
Tan Choon Leng of RHTLaw Taylor Wessing LLP discusses the benefits of using trusts, and explains how trusts often need tailoring and reviewing because every family is unique, and because situations will inevitably change.
The winning formula for a successful family business
H P Shah of Value Plus Family Office explains that family bonding is the key to a successful and prosperous family business - and stresses the importance of diversification of assets.
The importance of planning for the future
Tan Choon Leng of RHTLaw Taylor Wessing LLP outlines why wealth and estate planning is so important today, and discusses some of the common concerns wealthy clients have.
Developing stewardship in the next generation
Christian Stewart of Family Legacy Asia outlines the key considerations for families wanting to prepare the next generation for working in the family business.