Guardianship Hong Kong

Hong Kong does not have orphanages – there are around 1,200 volunteer foster parents. When your minor children become orphans, you will need to appoint someone to take care of them under 18 years old, or a foster family would be appointed to care for them until guardian/s is selected.

It is horrible to imagine, but you would need someone to look after minor children in Hong Kong if the permanent guardian/s are coming from overseas, therefore appointing a temporary guardian with the HK Appointment of Guardianship form. A permanent name through a Deed of Guardianship.

Ideally, guardians should be appointed in a will and a Deed, which gives guardians immediate access to the children. In contrast, a Will alone usually takes more time to present to the courts.

During these Covid-19 times, it is also advisable to have a temporary guardian to substitute you if you are quarantined, hospitalized, stranded (in a different country) for a lot of reasons for parents to be separated from their children.

An Enduring Guardianship form should also be completed to ensure that your children are continually looked after, no matter the event.

These documents can be written and become valid within a short time and add peace of mind to your daily life.

Advantages of (nominated) Guardianship

Following are the advantages of guardianship proceedings:

  1. Can Give Control to a Trusted Third Party.When a guardian is appointed, the court will appoint a family member, friend, or corporate guardian who can be trusted to make decisions for the ward.
  2. Comes with Court Oversight
    In case a guardian is appointed by the court, the guardian has a fiduciary duty to act in the best interests of the ward. The court will monitor how the decisions are made and assets are managed to certify that a guardian is fulfilling his duty.

Disadvantages of (government) Guardianship

Following are the Disadvantages of guardianship proceedings:

  1. Complicated and Costly The court process can be time-consuming and expensive.
  2. The Individual Doesn’t Get the Chance to Select Their Guardian

Enduring Guardianship form should also be completed to ensure that your children are continually looked after, no matter the event.

These documents can be written and become valid within a short time and add peace of mind to your daily life.

Other Services

Estate Planning

Everyone has possessions they will leave behind when they die and should make provisions for how they want these to be distributed.

Wills

Without a Will, the Court of Probate makes decisions on your behalf –  the risk being your possessions will not be distributed as you would like.

Trusts

Your property passes immediately and directly to your named beneficiaries whenever needed with the right type of trust in place.

Power of Attorney

You choose who makes decisions, in keeping with your preferences, for the handling of your medical care, assets, and investments.

Set Up A Consultation

Reach out to the experts at Carey Suen today and begin putting plans in place to secure the future of your legacy.

Digital Wills

Manage the fate of your online presence and assets in one document without having to make arrangements with each site.

Cross-Border Planning

It is important to consider your overall tax status when you marry or move to another country or invest in an asset away from home.

Company Protection

The company should consider how it would financially replace its key person if this person were to die or become incapacitated.

UK Citizens

Special rules apply to the calculation of inheritance tax on the global assets of UK passport holders who live outside the UK.

We specialize in a diverse set of bespoke wealth management solutions meant to protect you and your assets from both the uncertainties and eventualities of life. Our services include:

  • Helping you stay in charge of what happens to your possession when you die.
  • Ensuring your beneficiaries (especially those most vulnerable) are taken care of.
  • Catering to the tax concerns of UK citizens who live abroad as well as those with international family ties or investments
  • Helping you secure your digital property in an increasingly digital world.
  • Providing advice and solutions for leader replacement in cases of retirement or death.
  • Ensuring someone is assigned to carry out your wishes in the event you are unable to do so.

All of our processes require an in-depth knowledge of the laws and taxes applicable locally and globally.

They also require the flexibility to create unique solutions that cater to the specific situations and scenarios our clients bring to us.