Successor of Family Business

June 17, 2024by RKS Editor0

In recent years, Hong Kong’s family businesses have increasingly been looking for alternative approaches to succession, as some younger family members show reluctance to take over the family business. Families are also establishing more robust governance mechanisms, such as investment strategies and performance assessment, to oversee the running of their own business.

Sindy Wong was recently interviewed by Sing Tao Daily to discuss the various tools available for family wealth succession, including trusts, wills, and enduring powers of attorney. While each tool has its own advantages and disadvantages, Sindy emphasized that families need to carefully evaluate each tool to identify the best approach for their unique circumstances. She also commented on the growing trend she is seeing of more families from mainland China getting interested in family governance.

Read Sindy’s interview article here

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RKS Editor

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