2018 Private Client Forum Asia
 
Private Client Forum Asia 2018

'Transfer of an Asian family business to the next generation; challenges and opportunities'


08:30 - 09:00
Networking coffee & registration

09:00 - 09:15
Chairman opening remarks
Nicholas Jacob, Forsters, UK
Thelma Kwan, Thelma TM Kwan, Hong Kong

09:15 - 10:00
Opening keynote- Insights into the Emotional Side of Wealth Management
  • How does psychology help in understanding family wealth
  • Affluenza and the importance of education and training in preparing the next generation (for succession and taking on roles in the family system)Understanding generational perspectives
  • The importance of integrating non-financial advisors, wealth advisors and the family in preparing, managing and preserving the family wealth
Dr Ronit Lami, Wealth Psychologist, USA & UK

10:00 - 11:00
The nerve centre of UHNWI: Mastering family governance in Asia 
Asia is renowned for resisting family change and there is more to a successful family dynamic than governance. But what does it take to create the right climate for a family to succeed in Asia? The opening panel of the Private Client Forum Asia will deep dive into the approach that they have taken to family governance in Asia, including the different cultural dynamics and objectives that have to be taken into account:
  • How should you introduce and engage the process of family governance in Asia; challenges and opportunities?
  • How does one deal with issues confronting the 21st-century family that is built very differently to the traditional model?
  • What would you expect to see in a family constitution in Asia?
Moderator: Nicholas Jacob, Forsters, UK
Lester Huang, P.C.Woo & Co, Hong Kong 
Bijal Ajinkya, Khaitan & Co, India 


11:00 - 11:30
Networking & refreshment break

11:30 - 12:30
Trouble is brewing: The treatment of trusts in divorce
Key global players unite to discuss the dangers of wealth and the issue of divorce and trusts within the context of family business transition. Trusts continue to be a useful vehicle to protect assets, but there remains a general confusion over the pitfalls of trusts during a divorce. Join our speakers as they outline how best to navigate the Armageddon of divorce: 
  • The vulnerability of trusts in the divorce scenario?
  • Tried and tested strategies that ring fence trust assets in a divorce scenario? 
  • Are dynastic trusts a suitable alternative to protect the family business?
  • What are the opportunities and pitfalls of pre and post-nuptial agreements in Asia?
Moderator: Thelma Kwan, Thelma TM Kwan, Hong Kong
Marcus Dearle, Bryan Cave Leighton Paisner, Hong Kong
Wong Kai Yun, Chia Wong, Singapore 
Kurt Rademacher, Butler Snow, Singapore 


12:30 - 13:30
Boardroom discussions
Our expertly facilitated workshop groups allow you to choose topics that are of the most importance and relevance to you. Come prepared for in-depth discussions and detailed peer-to-peer knowledge sharing.

A) Tax planning strategies for your global clients: China - US - Italy In a changing legislative and regulatory landscape cross-border planning and international mobility has never been more challenging, particularly when the international family has more choice than ever before. Join this session as our speakers discuss the tax issues that arise during Asian client wealth planning and unravel the tax changes that are being implemented into the U.S., Italy (particularly the new residence program) and China and the implications these changes will have for your client who has various structures around the world or plan relocation. The panel will consider a Chinese UHNW client structuring affairs in China and acquiring a property in Italy (in light of the new residence program) and a property in the US.
Alessandro Bavila, Maisto e Associati, Italy
Todd Beutler
, BMT International, Hong Kong 
Fabiola Suwanto, Perkins Coie, Shanghai


B) Dealing with a lack of capacity in succession planning
What is the best approach to tackle the cultural differences that private client lawyers routinely have to bridge in Asia where many patriarchs find it challenging to transfer their wealth to their children? With speakers from multiple jurisdictions, this roundtable discussion will cover the tricky topic of advising an Asian client with diminishing capacity and the effect that this will have on existing structures.
Shimon Takagi, Takagi Law Office, Japan 
Kevin Lee, Stephenson Harwood, Hong Kong 

13:30 - 14:30
Networking lunch

14:30 - 15:15
Caught in the cross-fire: The pitfalls of Private Trust Companies
Private Trust Companies have many advantages but they can be disastrous in the wrong situation, the Ritz Carlton case is one example. As a trustee, what can you do, either to prepare in advance or to react to try and minimise the impact of assets being demanded when contact is impossible? How best can you help to deal with the situation?
  • Is a private trust company a panacea to risk? 
  • Are private trust companies effectively a nominee arrangement? 
  • Decision making and conflicts of interests?
Moderator: Nicholas Jacob, Forsters, UK
David Chee
, Drew & Napier, Singapore
Paul Hodgson, Butterfield Group, Guernsey 
Clifford NG, Zhong Lun Law Firm, Hong Kong 

15:15 - 15:35
Networking & refreshment break

15:35 - 16:20
Afternoon keynote address
A beginners guide for the future: The impact of blockchain & cryptocurrency
The blockchain craze is here and many clients are keen to delve into the world of virtual currencies but, do you really understand how it will impact the private wealth industry? In this fascinating keynote, Professor Tang Hang Wu will outline the opportunities and pitfalls of cryptocurrencies globally and the planning implications that this may cause in the future.
  • Why is blockchain so popular in Asia?
  • What are the opportunities and pitfalls of cryptocurrencies globally?
  • What are the planning implications that this may cause in the future?
Tang Hang Wu, Professor of Law, Singapore Management University

16:20 - 17:00
Quick-fire update- The latest cases and concerns
Join this high octane session as our speakers analyse and provide a snapshot summary of recent influential cases.   
  • Is there a trend for litigation cases at the moment?
  • What are the drivers for this trend?
  • How will this affect future case law?
Moderator: Thelma Kwan, Thelma TM Kwan, Hong Kong
Joshua S. Rubenstein,
Katten Muchin Rosenman, USA
Vikna Rajah, Rajah & Tann, Singapore 
Gilead Cooper QC, Wilberforce Chambers, UK 

17:00 - 17:15
Co-chair closing comments
Nicholas Jacob, Forsters, UK
Thelma Kwan, Thelma TM Kwan, Hong Kong

17:15 onwards 
Closing drinks