Leave no legal loose ends for your family.
Thinking about writing your will isn’t really a happy thought and many of us have been guilty of procrastination when it comes to this topic (no judgement!). And yet, parents in the city are all too aware of the need to get their wills and guardianship papers ready. After all, having those formal documents will help you control how your money and belongings get distributed after your death and, most importantly, who will look after your kids if something happens to you (the last thing a grieving family needs is to have to deal with incomplete or non-existent paperwork). If this is one important item on your to-do list, we have rounded up some of the well-known will-writers and consultants, financial and wealth management companies and solicitors and law firms you can approach if you need to make a will in Hong Kong.
Will-Writers And Consultants
As the name indicates, this company is dedicated to writing a will and other relevant legal documents in Hong Kong. It answers all your most pressing concerns and questions about making a will, including the difference between Living Wills and Last Wills and Testaments, and safe storage of wills. Certain terms that are used often while making a will such as executors, trustees, keyman insurance, Bona Vacantia (for all Brit expats) and intestacy are explained well on the website. The key takeaway is that it is important for all parents in Hong Kong to make a will for the sake of their partner and children, so it’s best not to delay the decision.
Phoenix Wills has over 20 years of experience preparing Wills for individuals, families and companies based in the Asia Pacific region (it comes well recommended by some Sassy Mamas in the office!). It has worked with clients with assets in different countries and is well-equipped to make this often-arduous task more pleasant. The team offers to meet potential clients in the comfort of their own home, or anywhere else convenient, and at flexible hours.
If you have a partner from a different country, children born in different countries, overseas assets or you intend to retire somewhere other than here, you need cross-border planning while writing a will in Hong Kong. It’s one of the specialities of Carey Suen Will Services. The company answers many questions such as civil partnerships, digital wills (regarding online presence and assets) and understanding inheritance tax for UK citizens.
Amy Kwan, a qualified solicitor in Australia and Hong Kong, believes that in many Asian countries, a will is seen as something that only the wealthiest or the eldest one in the family requires because it is only needed for the resolution of disputes. She launched Good Wills as a will-writing and a will-consulting service in Hong Kong and is striving to change that perception by listening to the clients and then helping them draft a will that is tailor-made to their needs and wishes to take care of their loved ones. The service covers everything from appointing executors and trustees to distribution of assets, finalising guardian(s) for minor children to making arrangements for a fur baby.
Harbour Wills understands that expat wills are fairly complicated and all their advisers are experienced in dealing with clients across the APAC region, The company promises to help families with estate planning and how best to preserve wealth and assets.
Read more: How To Raise Multicultural Kids In Hong Kong
Wealth Management And Estate Planning Firms
St. James’s Place is a well-known wealth management company. One of the services offered in Hong Kong is Wills and Estate Planning. The company will help you not only to write a will but also to appoint guardians for your children, create an enduring power of attorney (to make sure the right people manage your money if you are in any way incapacitated) and draw up estate planning and family protection plans.
Taylor Brunswick promises to find inexpensive solutions to your requirements for multi-jurisdiction wills with its strategic partnerships across the industry. It also offers customised financial advice that suits your personal needs.
Ernest Maude offers its individual and corporate clients tailored investment, property, pensions and insurance advice, including writing a will and succession planning. The company claims that it can help reduce costs of will writing and estate planning and discount the tax that your estate would otherwise pay.
Solicitors And Law Firms
With an increasingly global world, there are a large number of Asian and non-Asian families with assets spread all over the globe and anyone writing a will has to take that into account. Hugill & Ip Solicitors’ Estate Planning services focus on efficient cross-border asset management to alleviate the pain of this often cumbersome bureaucratic process.
Though mainly known as a business law firm, with lawyers qualified to practise in various jurisdictions including Hong Kong, United Kingdom, Australia, Canada, Singapore and Sri Lanka, Weir & Associates is well equipped to handle its private clients’ needs. These include Trust & Estate Planning, Probate, Preparing a Will and Pension Planning.
Other Law Firms To Consider While Writing A Will
With a large expat population, writing a will in Hong Kong is often a complicated and expensive process. Laws regarding marriage and/or civil partnerships, guardianship of minors, inheritance and tax liabilities are different across the world. Besides this, there are cultural nuances that go into making a will for divorced families, blended families and single-parent families, so you must be confident about your will writer, consultant or solicitor’s ability to factor this in. Wills and guardianship documents also need to be reviewed periodically and updated as your financial, marital and domicile status could change over the years.
If you have less complicated needs and don’t need multi-jurisdiction wills, you can look at Hong Kong-based and registered lawyers and solicitors who often offer the same service. Many of them don’t have websites and can be reached only by email or phone, but they are highly reputable, know the local laws well and will be able to help you draft your will. Be sure to speak to non-expat friends for recommendations.