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Welcome to Herbert Smith Freehills’ monthly private wealth industry updates in Asia. Every month we survey ten Asian jurisdictions for legal developments concerning trust and estate planning which are of interest to the private wealth industry, and provide a succinct summary in a table format. The jurisdictions covered in the update are Hong Kong, Singapore, … Read more
The fifth edition of the Herbert Smith Freehills Guide to Private Wealth in Asia provides clients, business people, lawyers and other advisors with concise information on trusts, estates, probate and mental capacity issues to assist them in mitigating risks and understanding the changing legal landscape for private wealth across 12 jurisdictions in the region (China, … Read more
In a recent judgment concerning the doctrine of mistake, Deputy Master Marsh explains the evidential hurdles a claimant will have to overcome before the Court will set aside trusts created as part of a tax avoidance scheme. In this case, the Claimants and their legal advisers failed to overcome those hurdles (and earned a relatively … Read more
Welcome to Herbert Smith Freehills’ monthly private wealth industry updates in Asia. Every month we survey ten Asian jurisdictions for legal developments concerning trust and estate planning which are of interest to the private wealth industry, and provide a succinct summary in a table format. The jurisdictions covered in the update are Hong Kong, Singapore, … Read more
No trustee or protector wants to get sued, let alone get sued twice for essentially the same thing. What can they do if this happens? You may remember that in May 2019, the Hong Kong Court of First Instance in the high profile Madam Lo v HSBC Trustee case dismissed claims brought by a beneficiary against the Trustee of … Read more
Welcome to Herbert Smith Freehills’ monthly private wealth industry updates in Asia. Every month we survey ten Asian jurisdictions for legal developments concerning trust and estate planning which are of interest to the private wealth industry, and provide a succinct summary in a table format. The jurisdictions covered in the update are Hong Kong, Singapore, … Read more
Welcome to Herbert Smith Freehills’ monthly private wealth industry updates in Asia. Every month we survey ten Asian jurisdictions for legal developments concerning trust and estate planning which are of interest to the private wealth industry, and provide a succinct summary in a table format. The jurisdictions covered in the update are Hong Kong, Singapore, … Read more
Should testamentary capacity be governed by the approach in Banks v Goodfellow1 or the Mental Capacity Act 2005 (“MCA”)? The Court of Appeal (the “Court”) had the opportunity to re-consider the application of Banks in light of the MCA, but declined to do so in their recent decision in Clitheroe v Bond [2021] EWHC 1102 … Read more
On 1 June 2021, the Hong Kong Court of First Instance handed down another lengthy Judgment in the long-running dispute among certain members of the prominent Lo family. On the applications of HSBC Trustee (the “Trustee“) and Dr KS Lo (“KS“), the Court struck out large portions (the “Offending Paragraphs“) of Mr Lu Lo (“Lu“)’s … Read more
