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High-net-worth individuals in Hong Kong are fast appreciating the need to have a robust succession planning strategy in place,reports Patricia Woo

24 November 2015

Succession legislation in Hong Kong is not a complicated area of law. There are no elaborate forced heirship and community of property regimes. Estate duty has been abolished for deaths occurring on or after 11 February 2006.

Testamentary freedom and intestacy

Full testamentary freedom is available in Hong Kong, subject to a limited number of restrictions. With a valid will, the estate will be distributed accordingly. However, the court may approve an application made to direct payment of money or transfer of property from the net estate to certain persons who have been maintained by the deceased, but for whom the will, the intestacy rules or a combination of both, have not made reasonable financial provision.

The law applies to a deceased domiciled in Hong Kong or ordinarily resident in Hong Kong at any time in the three years immediately prior t...

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