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

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 rul...

Jean Yves

IICJ

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