Liquidity of estate
- Under most countries’ jurisdictions, when a person dies, someone has to deal with their money, property and possessions– their estate.
- Then the deceased’s assets may be frozen until the court issues a probate, which gives a specified person the right to administer the estate.
- Only then can the deceased’s frozen assets be touched and any money withdrawn or transferred from his/her bank accounts.
- Probate applications can take a long time, and this may cause additional burden to families who are going through emotional distress.
- To avoid the unnecessary hassle and ensure your wealth is distributed according to your wish, it is prudent to have a proper wealth transfer to give you control over your hard-earned money.
Separate your wealth transfer funds from retirement funds
Many people may think that evenly distributing all your remaining wealth is already a good plan to transfer wealth. There may in individual circumstances be merits to separating your wealth transfer funds from your retirement funds.
- Ensure sufficient retirement savings
- Ease your worries in consuming wealth you wish to pass on
- Boost your estate benefits with insurance solutions2
Wealth transfer of family business and assets
- An important and strong tradition within the Asian culture is passing on legacy and wealth to younger generation.
- Assets may cover a variety of categories, some of which cannot be easily divided among your heirs.
- When faced with a business and assets that cannot be divided, estate may not be fairly distributed to the successors.
- There are circumstances when life insurance can help create more liquid assets at the point of distribution of your wealth.
An estate inventory
- Real estate
- Securities (Stocks, Bonds and Unit Trusts)
- Bank accounts
- Life insurance policies
- All tangible personal property (e.g. cars, boats)
- MPF accounts
Your asset may cover a variety of categories, some of which cannot be easily divided among your heritance.
Financial Health Check
Want to review your finances and assess if you are on track with your priorities in life? Complete a Financial Health Check online to understand your financial strengths and identify areas that may need further attention.
Risk Profiling Questionnaire
Want to understand your investment needs and risk appetite? Please log on to HSBC Personal Internet Banking or the latest version of HSBC HK Mobile Banking app, and it will take you just a few minutes to complete the Risk Profiling Questionnaire.
Frequently asked questions
What should I do to start financial planning?
How do I determine my risk tolerance?
The information as shown on this page is not for sales purpose and it is hypothetical and for illustration only. It is not intended to constitute a recommendation or advice to any prospective customers and is not intended as a substitute for professional advice. You should not act on any information on this page without seeking specific professional advice.
Products and services referred to in this website are offered only in jurisdictions where and when they may be lawfully offered by The Hong Kong and Shanghai Banking Corporation Limited. The material on these pages are not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to local law or regulation.
Note: Investment involves risks. Past performance is no guide to future performance. Investors must refer to the respective fund's offering documents for further details of the fund and the risks involved.
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