Private Family Trusts: Benefits, Trends and Challenges

Private Family Trusts: Benefits, Trends and Challenges

New Seminar

Overview

According to SFC’s 2018 Asset and Wealth Management Activities Survey, the private wealth AUMs amounted to HKD7.6trillion. As of July 2019, Bloomberg reported that Hong Kong made up 30% of Asia’s 20 richest families. These High Net Worth Individuals (“HNWIs”) and Ultra HNWIs (“UHNWIs”) seek options to help them manage their families’ financial lives, not just managing their assets. Private Family Trusts have become an increasingly popular choice for asset protection, family succession and preservation of their family wealth.

Objective

By the end of the seminar, participants will be able to understand:
‧ the benefits of trusts
‧ current trends for the use of trusts
‧ today’s challenges of trust structuring

Content

1) Primary benefits of trusts
2) Current trends for the use of trusts:
     a) Succession Planning
     b) Community/Matrimonial Property in divorce
     c) Pre-IPO trusts
     d) Employee Share Ownership Plans (“ESOPS”)
     e) Sustainability and ESG
3) Today’s challenges of trust structuring:
     a) CRS and global tax
     b) TCSP Licensing and AML/CTF
     c) Business succession

Who should attend

Professionals, such as lawyers, accountants, bankers, asset managers, company secretaries, corporate service providers, insurance brokers/agents, family offices and others working in the Wealth Management industry.

Speaker/Course Instructor

Michael SHUE
Michael Shue is Managing Director of Tricor’s trust services. He is a widely experienced lawyer who has successfully practised both in New Zealand and overseas for more than 25 years. A large part of Michael’s legal practice involved corporate and trust structures to assist clients with asset protection, estate and family succession and tax planning. Previously, Michael was the Executive Director of a major trust company providing advice on the structuring, establishment and ongoing administration of, both onshore and offshore trusts, estate and family succession plans, family office governance, Pre-IPO trusts, Employee Benefit Trust and Employee Share Option Plans. He has extensive experience with multiple onshore and offshore trust jurisdictions, including Hong Kong, Singapore, BVI, Cayman, Jersey, Guernsey, Labuan, New Zealand and Samoa, as well as different types of trust structures.

Michael holds a New Zealand law degree, is a current Committee member, and past Chairman (in 2015, 2016 & 2017) of the Hong Kong Trustees’ Association (“HKTA”). He is a Co-chairman of the China Development Sub-Committee of the HKTA jointly with STEP Hong Kong. Michael is a member of the Hong Kong Development Council Financial Services Advisory Committee and the Hong Kong Monetary Authority’s Process Review Committee. He holds the HKTA Certified Trust Practitioner qualification.
Yie Ying TAN
Yie Ying is the Executive Director of Trust Services at Tricor. She has a wide range of experience in the financial services industry, including audit at one of the big 4 accounting firms. it was during her time as a financial controller for an American Bank Trust Company that she discovered her passion for serving private clients. Yie Ying gained a comprehensive knowledge of the different jurisdictional trust laws and best trust company practices through her working experience in Switzerland, Singapore and Hong Kong. She used different tools in conjunction with the different trust jurisdictions to execute the best outcomes based on the different needs and purposes for each of her client’s unique situations. She has experiences with private trusts for asset protection, succession planning, tax planning and Pre-IPO planning, as well as corporate structures for employee and senior management award schemes.

Yie Ying holds a Bachelor Degree in Accountancy and a Masters Degree in Finance. She is also a Certified Trust and Estate Practitioner.

Details

Code
TSTAW20000301
Date & Time
Thursday, 7 May 2020 (12:20PM - 1:20PM)
Venue
HKSI Institute Training Centre
Language
English
Level
Introductory
Hours
SFC:1.00, PWMA:1.00
Fees
All Member: HK$220
Staff of Corporate Member: HK$220
Non-Member: HK$440