At Legal Week’s Private Client Forum Hong Kong, a panel of senior experts explained the risks of not having robust trust structures and the problem with entrepreneurs’ perceived immortality, writes Elizabeth Broomhall
In recent years, there has been a surge in offshore litigation surrounding the transfer of wealth in Asia. Cases have arisen partly because of problems with the legacy trust structures set up in the 1980s and 1990s in jurisdictions such as the British Virgin Islands (BVI), and partly because of the global economic climate, which has exacerbated the fury of the beneficiaries of these trust funds, many of which have plummeted in value.
