Wealth Management & Succession Planning Association

Specializing in Trust, Fidicuary, Will, Family Office, Commercial Law & Succession Planning

PRACTICE AREAS

Trust

Tax efficiency
Legitimate confidentiality of ownership
Protection against forced heirship laws

Pre-IPO Restructure

Tax planning before Initial Public Offerings

Pre-Immigration Planning

Planning for High Net Worth clients before immigration

Succession Planning

Legal Advisory services on wealth and succession planning

Will

Estate Planning

Private Investment

IEquity, ICO and PE investment projects

Our Services

We are a wealth succession planning professional association with a presence in Hong Kong. We offer a multi-jurisdictional, integrated range of services including fiduciary, trust, will, banking and other wealth succession management services.

Our team comprises lawyers, accountants, trust specialists, legal and financial services professionals who have extensive experience in structuring and managing family wealth.

We focus on long-term relationships with our private clients and family offices, offering bespoke services. We are experienced in establishing single and multi family offices and in setting up various structures in multiple jurisdictions for holding significant assets under management. We strongly believe that the starting point for our client relationship is through a deep understanding of our client’s business and core business issues and priorities. We spend time to understand each client’s business and objectives and are able to shape solutions around our client’s requirements.

Benefiting from our independence, we are able to make timely decisions and maintain flexibility to meet the specific requirements of family members.

Our results orientated approach aims to find the optimum business and tax solution for our clients.

Our services include:
-Fiduciary, Trust and Foundation
-Will Services & Administration
-Management Services
-Banking Services
-Consulting Services
-Family Office
-Wealth Succession Planning

Our Lawyers

We love what we do and we do it with passion. We value the experimentation, the reformation of the message, and the smart incentives.

Albert So

Practising Solicitor, Professor (Honoris Causa) and University Programme Leader, Accredited Mediator, Accredited Family Mediator, Arbitrator, Certified Anti-Money Laundering Specialist, Certified Financial Crimes Specialist, Legal Columnist; BEng(Hons); LLB(Hons); PCLL(HKU); PGCert(Cambridge); ExeEd(Harvard); FinTechDip(Oxford); MIT(Artificial Intelligence); FHKIoD; FHKIArb; FRAS; Fellow of International Bar Association; Honorary Legal Advisor; Patron and Advisor of HKSAROSU; Chairman of HKMAAC, Travel Industry Council Committee Member. The Best Trust Lawyer (2018).

Mr. So obtained his honor bachelor’s degree in laws at the University of London, postgraduate studies in laws at both the University of Hong Kong and competition laws at the King’s College London. In addition, he received his professional postgraduate education in civil law, business and finance at the Tsing Hua University, University of Cambridge and Harvard University (John F. Kennedy School of Government). Senior member of Hong Kong Institute of Directors, Chairman of Hong Kong Institute of Arbitrators,Senior member of Hong Kong Institute of Arbitrators and Royal Asiatic Society of Great Britain and Ireland,Senior member of International Bar Association, Accredited Mediator of Lands Tribunal of Judiciary and Family Law Court, Mediator of the Law Society of Hong Kong.

Mr. So has over 15 years of professional experience both in Hong Kong and England legal industries, including the in-house legal position as the Team Head of Legal and Compliance section at international banking Group, a senior investigation team member of financial regulatory authority. Mr. So had also been working as a consultant for one of the largest global U.S. investment banks. Meanwhile, he also actively participates in lectures, research, and provides legal training to different governmental and financial institutions. Mr. So is also the author of several textbooks.

Professional Training

Executive Certificate in Family Trust and Wealth Succession Planning

INTRODUCTION

This new program is being launched jointly by the Wealth Succession Planning Association and Hong Kong Management Association (HKMA) in 2019.  This accreditation program is being developed in order to:

  • develop professionals for the trust, insurance, financial, private banking and fiduciary industries in Hong Kong; l promote professional standards within the family trust and wealth succession planning industries;
  • train and encourage new professionals to the industry and provide an opportunity for further career advancement; and
  • teach, compare and analyze the market trend and latest development regarding the family trust, insurance, private banking and wealth succession planning industries and increase the competency of individuals working in the industries.

DESIGNED FOR

  • Private Bankers, Financial Practitioners, Insurance Specialists, Family Offi ce Practitioners, Wealth Succession Planners;
  • Executives and Managers who are interested in Family Trust and Wealth Succession Planning and how they can benefi t business;
  • New entrants to the banking, insurance, and trust industries; and
  • Professionals who already have basic knowledge of trusts and wish to expand their area of knowledge.

OBJECTIVES

This program includes contents which cover Family Trusts, AML/KYC procedures, CRS & compliance, Collective Investment Schemes, Global Taxation and Estate Duty, Discretionary and Fixed Trusts, Hong Kong / PRC / Offshores Trust comparisons, Charitable Foundations and Family Offi  ces.

 

PROGRAMME FEE LANGUAGE
HKMA Member:  HK$13,500 Cantonese with English materials

Non-member:  HK$15,000

Early Bird Discount: HK$500 less (For those who enrol and pay before 19 September 2019)

SCHEDULE VENUE
3, 10, 17, 24, 31 October The Hong Kong Management Association
7, 14, 21 (Examination) November 2019 14/F, Fairmont House, 8 Cotton Tree Drive,

7:00 pm – 10:00 pm                                                                        Central, HONG KONG

LECTURER

Prof. Albert So

  • University of London, University of Cambridge, Harvard University (J.F.Kennedy),Oxford (Fintech)
  • Lecturer of CUHK (Faculty of Medicine), HKU (AML), HKEdU, CityU (Program Director), PolyU• Legal Columnist
  • Chairman of Hong Kong Mediation and Arbitration Centre
  • President, Law Society of One Belt One Road
  • Practising Solicitor, Court Prosecutor (Fiat)
  • ICCHK, Executive Committee Member
  • Honorary Legal Adviser, The Life Underwriters Association of Hong Kong
  • Honorary Legal Adviser, The Society of Hospital Pharmacists of Hong Kong
  • Accredited Mediator, Accredited Family Mediator, Arbitrator
  • YMCA Academic and Legal Adviser
  • Certifi ed Anti-money laundering Specialist, Certifi ed Financial crime Specialist, Member of the Chartered Fraud Examiner Institute
  • Yan Chai Hospital / MSF / Po Leung Kuk / Tung Wah Group of Hospitals Long LoveIntegrated Family Service Centre Honorary Legal Adviser
  • Honorary Advisor, of the Hong Kong Special Administrative Region OutstandingStudent Association

 

CONTENT

1. Legal Principles of “Will”

Elements of Will

Probate Procedures in HK and China

Legal issues of using Will in wealth succession

Concept of Family Offi  ce Court Cases Studies

2. Introduction of Trusts

Roles of Settlor, Trustee, Protector, Enforcers and Benefi ciaries Declaration of Trust

Duties and Responsibilities

Gifts, Trust and Power

Certainty of Trust

Establishment Fees and Management Fees

Variation and Termination of Trusts

3. Types of Trusts

Chinese Customary Trust

Family Trust vs. Commercial Trust

Charitable Trust vs. Non-Charitable Trust

Fixed Trust vs. Discretionary Trust

Named Benefi ciary vs. Non-Named Benefi ciary

Protective Trust, Revocable vs. Irrevocable Trust

Application and Limitation of Trusts

Rules against Perpetuities

“Cy-pres” and Principles of Distribution

4. Succession, Will and Trust

Presumption of Advancement (e.g. father to child, husband to wife, mortgage payments) Mutual Wills and Family Secret Trust How can Family Trust be used in Wealth Succession?

Advantages of Family Trust: Confi dentiality, |

Divorce, Bankruptcy and Passing Wealth to Next

Generation

Comparison of diff erent Estate Planning Tools:

e.g. Wills, Pre-nuptial Agreement and Insurance How can High Net Wealth Clients use “Stand-by Trust” and “Insurance Trust” to protect assets?

How to combine Trust and Insurance Products?

AWARD OF CERTIFICATE AND CPD HOURS

5. Trusts Administration and Management

Trust Set-up process

Drafting Trust Documents

Deed of Trust

Letter of Wishes

Appointment of Trustees

Private Trust Companies (PTC)

Distributions to Benefi ciaries

Addition and Removal of Benefi ciaries Documents for  protection, investment policy, accounting rules, trust account requirement, etc Comparison between diff erent Trustees

(e.g. Banks, Trustee Companies, Lay Trustees, Family Offi  ce and Lawyers)

6. Rules and Regulations Apply to Trustee Companies

Current Compliance and Reporting Environment

FACTA Implication for Trustee

CRS and Trusts

AML Requirement for Trusts with Individual

Trustees

Client Due Diligence and Record Keeping

Requirement for Trust

Due Diligence

Tracing Trust Property by Creditors

Source of Fund (SOF) Requirement

Others

7. Trusts Jurisdictions Comparison Hong Kong Trust

Off shore and Special Trusts

Singapore

Mainland China

British Virgin Island

Cayman Islands

STAR Trust

Bermuda

Taxation, Benefi ciary Principles

International Recognition of Trusts

Restrictions upon Settlors, Trustees, Benefi ciaries,

Protectors and

Enforcers

8. Qualifying Professtional Exam “Certifi ed Trust Specialist”

 

A participant who has maintained a minimum of 80% attendance of total lecture hours will be awarded an “Executive Certificate in Family Trust and Wealth Succession Planning ”.  This accreditation will confer the “Certified Family Trust and Wealth Succession Planning Practitioner” designation to graduates who have successfully attained the accreditation requirements, i.e. the pass of the fi nal examination.

In addition, the participants will also gain the equivalent CPD hours recognized by the Wealth Succession Planning Association, Hong Kong Mediation and Arbitration Centre, and the Law Society of One Belt One Road.

ENQUIRIES

For this course details: Mr Roy Leung : 2774 8566 Email : royleung@hkma.org.hk General Enquiry & Enrolment : 2774 8500 or 2774 8501 Email : enrol@hkma.org.hk

Media

 

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CONTACT
Wealth Succession Planning Association

Unit C, 6/F, World Trust Tower, No. 50 Stanley Street, Central, Hong Kong

Unit C, 6/F, World Trust Tower, No. 50 Stanley Street, Central, Hong Kong

852-2193 5132

852-2193 5132

info@trust-wealth.org

info@trust-wealth.org

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