Trusts and Wealth Management

  • (Live Face to Face & Zoom) Introduction to Trusts

    The trust vehicle is frequently used by families to manage, preserve and protect family wealth, as well as a means for estate and succession planning.  What are the benefits, objectives or purposes of setting up a trust? What are the key issues that a client (settlor) would need to consider in using a trust? How can the settlor maintain control of trust assets?

    This course will provide a useful update for those who are considering setting up a trust or those who are advising clients on trust related matters.

    29 Sep, 2020

  • (Live Face to Face & Zoom) Economic Substance – Impact on Private Clients, Trustees and Family Offices

    This course will go through the new “economic substance” (“ES”) laws in the major offshore financial centres and how it affects private wealth structures.

    In December 2017, the European Union Code of Conduct Group carried out a review of the tax policies of those jurisdictions with zero or only nominal taxation and considered the concept of “economic substance”. Many jurisdictions have introduced laws to deal with this issue.

    The new laws impose requirements in respect of company management, operating expenditure, human resources and income generating activities. Non-compliance with the law could lead to financial penalties and the business entity being struck off.

    The speaker will walk you through the economic substance test to help you identify the business entities affected by the new law and how to comply.

    08 Sep, 2020

  • (Online Via Zoom) Family Trusts and Family Harmony – Can a Family Trust Help to Preserve Family Harmony?

    Asian families are starting to wonder why the trust structures they have set up have not been sufficient to help maintain harmonious family relationships. The reason for this is actually simple. Whether there is family harmony or not is a question of the culture of the family. When a family sets up a trust structure, this might be helpful in that it does provide for the potential to have clear roles & authorities.  However, there is a saying that “culture will always eat structure for breakfast”.  Creating a trust structure is not sufficient by itself to impact on the culture of the family in a positive way.

    Therefore, what are some practices that families can put into place, with the help of their trustees and their advisers, to increase the chances of having a harmonious family culture?

    When thinking about this question two useful references which will be relied on in the webinar are: (i) Family Wealth Keeping It In The Family by James E. Hughes Junior and (ii) Family Trusts, A Guide For Beneficiaries, Trustees, Trust Protectors And Trust Creators by Hartley Goldstone, James Hughes and Keith Whitaker.

    11 Dec, 2020

    CPD/CPT Courses
  • (Online Via Zoom) Succession & Conflict in the Family Enterprise

    One of the most difficult issues facing family businesses in Asia and around the world is succession planning. A suitable process for addressing succession planning is critical for family businesses that want to continue to thrive for generations to come, and to minimize destructive family conflicts. Conflict in a family firm is inevitable and it cannot be avoided, but it can be managed, and it is important to understand that there are different kinds of conflicts. Conflict is often emotional in nature and cannot be avoided by a purely structural approach. This course describes a step by step process that business owning families can follow to improve trust & communication, strengthen their governance, address succession, and create options for managing family firm conflicts.

    18 Dec, 2020