Trust

In our experience, many individuals do not consider establishing a trust as part of their wealth planning even though it can be an extremely effective tool. This tends to be for one of two reasons:

  • They feel that settling a trust will be too complex, when in reality it can be a relatively straightforward process. 

  • Many have assumed that the cost of setting up a trust is enormous.

There are many reasons why a trust may be suitable. This could be to protect assets, to provide privacy or to ensure the smooth transition of assets to beneficiaries on death and avoid lengthy probate proceedings. Whatever the reason, our advisors along with trust experts can advise you on whether a trust is appropriate to meet these objectives and ensure that you achieve your aims.

Hong Kong has replaced New York as the city with the world’s biggest “super-rich” population. The large number of high- net- worth individuals translates to a corresponding high demand for wealth management services. In keeping with our client-centric philosophy, we are committed to meeting the demand among high- net- worth clients for a total solution comprising protection, wealth accumulation/preservation and legacy planning.

We are the first insurer in Hong Kong to offer the referral of “Standby Trust” service in alliance with ZEDRA, an independent global specialist in trust services with over 50 years of experience. Policy owners (as the settlor) can take advantage of this value-added service by assigning a standby trust as the beneficiary of their life insurance policy. During their lifetime, the standby trust will remain on standby, being activated only after receiving the sum assured from the life insurance policy. ZEDRA will then manage the trust with reference to the settlor’s letter of wishes, distributing the trust assets, according to the needs of the trust beneficiaries in different stages of their lives. This arrangement provides flexibility in dealing with the sum assured for high- net- worth clients, meeting their need for legacy planning solutions and transferring their wealth to further generations.

In addition, we will arrange for eligible clients to enjoy tax and legal advisory services provided by EY. Existing clients holding a valid in force policy with a single premium of US$1 million or above, or an annual premium of US$100,000 (regular contribution) or above, may enjoy the advisory services provided by EY. These services target to help our high-end clients to manage their wealth more effectively.

About Zedra

ZEDRA is a global specialist in trust, corporate and fund services, uniquely a management controlled company.

Since 2016, the inherited know-how and first class service behind ZEDRA has enabled its exponential growth, from 6 to 16 offices across 13 key jurisdictions, now with a team of 500 industry experts. With its relentless effort in strengthening its services, ZEDRA offers a full suite of solutions to a diverse client base including high-net-worth individuals and their families, international corporations, institutional investors and business owners requiring active-wealth solutions. Its committed team of international professionals, is dedicated to creating and delivering bespoke solutions for clients, fostering an entrepreneurial approach.

ZEDRA’s trademarks of innovation, boldness and expertise allow it to respond to complex needs, whilst maintaining the highest standards of corporate governance in an ever-evolving regulatory environment. Across all disciplines and from every angle, EY professionals draw on their shared creativity, experience, judgment and diverse perspectives. Wherever it operates, EY help clients address their toughest challenges, so their businesses are fit for a digital future.

About EY

EY is a global leader in assurance, tax, transaction and advisory services. It helps organizations capitalize on opportunities, fulfil regulatory requirements, keep investors informed and meet stakeholder needs. And in a fast-changing world, EY gives them the support they need to be effective today and create long-term growth for tomorrow.

Across all disciplines and from every angle, EY professionals draw on their shared creativity, experience, judgment and diverse perspectives. Wherever it operates, EY help clients address their toughest challenges, so their businesses are fit for a digital future.