Tolstoy famously suggested that “…every unhappy family is unhappy in its own way.” For wealthy families, such unhappiness might translate into major legal battles which straddle both local and overseas courts. The speaker, through the lens of wealth disputes in Singapore, identifies the various factors which causes dysfunction within the dynamics of wealthy families. The speaker’s thesis is that despite Tolstoy’s suggestion, it is possible to identify several factors which are universal drivers of litigation in Asian families. Recognising these elements are important from the wealth advisor’s perspective as the risk of litigation could be lessened by careful planning. The seminar ends with a discussion of the lawyer’s toolkit, both from a planning and litigation perspective, in managing and preventing such family conflicts.
About the Speaker:
Tang Hang Wu is a Professor at the School of Law, Singapore Management University. His research interests include land law, restitution, equity, trusts, charity and non-profit law. Hang Wu has published widely and his work has been relied on by all levels of the Singapore courts, Federal Court of Malaysia, Royal Court of Jersey, Caribbean Court of Appeal and Manitoba Court of Appeal. He is also a consultant at TSMP Law Corporation where he co-heads the Trusts and Private Wealth desk. Hang Wu is frequently instructed by law firms to act as Counsel before the Singapore courts and has advised high net worth individuals, banks, trustees, the U.S Department of Justice and international law firms on complex property and trust issues. He was described in a judgment by the Singapore Court of Appeal as “a leading expert” who is “well-known locally and internationally”.
The Law Society of Hong Kong has awarded this seminar 1 Continuing Professional Development (CPD) point.