As the high-net-worth population grows in China, there is increasing demand for family wealth protection planning to ensure that family wealth can be passed on to the next generation in an appropriate and well managed way.
Sherrie commented, “Ten years ago, China’s wealthy were more interested in the return on investment of setting up family trusts. Now they are more concerned about the structure of the trusts.”
“Partly as a result of the focus on diversification and asset protection, Chinese high-net-worth individuals (HNWIs) have increasingly established private trust arrangements.”
Private trust arrangements are also said to function more reliably if established in a jurisdiction with a mature framework of legacy trust case law, making Hong Kong and Singapore the preferred locations for Chinese HNWIs.
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