On 28 August 2020, our firm’s partner, Ms. Sherlynn Chan, together with Professor Lusina Ho (of the Faculty of Law at the University of Hong Kong) and Ms Hao Wang (partner of RayYin & Partners PRC Lawyers) spoke on “Li 1 and Qin: Judicial Recognition of Testamentary Trusts in China”. The webinar was organised by the Hong Kong Trustees’ Association.
From left to right: Our firm’s partner Ms. Sherlynn Chan, Professor Lusina Ho of the Faculty of Law at the University of Hong Kong and Ms. Rebecca Chow from Hong Kong Trustees’ Association
In May 2019, the Shanghai No 2 Intermediate People’s Court in Shanghai handed down the first decision of the Chinese courts that recognised the establishment of a testamentary trust under the Law of Trusts of the PRC, Li 1 and Qin. This landmark case touched upon the establishment of a testamentary trust as well as the interplay between the doctrine of community property under PRC Marriage Law, Law of Trusts and the Law of Succession. With the increase in socio-economic linkage between Hong Kong and the Mainland, this decision has important implications for practitioners in Hong Kong.
At the webinar, Professor Ho, Ms Wang and Ms Chan explored issues arising from the judgement with particular focus on the creation and administration of testamentary trusts in China, the doctrine of community property, the differences between foundations and trusts, and the implications of the decision for practitioners in Hong Kong.
From left to right: Professor Lusina Ho, Ms. Sherlynn Chan and Ms. Hao Wang, partner of RayYin & Partners PRC Lawyers, joining the webinar from Beijing
There were over 50 people in attendance from the legal, trusts, insurance and accounting sectors. The audience was proactive in asking questions about PRC law and cross-border estate-planning issues.
Please contact Ms. Sherlynn Chan for more information or further enquiries.