Hong Kong, 24 May 2022: Our Partner Alex Liu highlighted the importance of making a will and safeguarding family assets in a presentation to members of the Hong Kong business community.
Alex covered such topics as the differences between wills and trusts, protecting your children’s future and guardianship of elders, highlighting his talk – entitled “Are You Prepared?” – with case studies to demonstrate the practical steps people can take towards inheritance planning and the pitfalls of not doing so.
“As responsible and successful adults, we would like to make plans for the care and maintenance of our children and parents. In an age of uncertainties and unknowns – for example, the Covid-19 pandemic, economic and political forces – there is a greater need to act now,” says Alex.
“However, it is a fact that in the developed world, more than 50% of adults have not made a will. If you pass away without doing so, not only does this make life more complicated and stressful for surviving family members, it leaves them at the mercy of the state. This presentation was designed to introduce the audience to the concept of sensible estate planning. Many think it is complicated and expensive when, in fact, much of it is straightforward and cost-effective.”
The talk was organised by the Malaysian Chamber of Commerce in Hong Kong & Macau and supported by the business chambers of Ireland, Canada, the Netherlands, Sweden, Singapore and Belgium-Luxembourg.
A Partner in BC&C since 2000, Alex’s key areas of practice include commercial and corporate litigation, dispute resolution, investigations by governmental bodies, commercial contracts and property. He also devotes considerable time to community work, much of this through his long-time involvement with Lions Clubs International and the Hong Kong Guide Dogs Association.