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FULL! Understanding The Private Trust Company
Tuesday 27 March 2018, 13:00 - 17:30

 

SILE

About this Workshop

At this half-day workshop, our speakers will deal with the following topics:

  1. PTC as structure of choice to meet the aspirations of UHNW families
  2. What does it mean to be a Trustee?
  3. What does running a PTC entail?
  4. When the PTC fails

Seminar Programme

1.00 – 1.55pm
Registrations & Standing Buffet Lunch
1.55 – 2.00pm
Opening by Seminar Chair
Mr. Lionel Choi – Secretary, STEP Singapore Branch; Managing Director, Wealth Planning - LGT Bank (Singapore) Ltd
2:00 – 2:45pm
PTC as structure of choice to meet the aspirations of UHNW families
  • What are the motivating factors to consider a PTC?
  • How does the PTC fit in the overall planning?
  • What are the ingredients for success?
  • What are the possible pitfalls?
  • Aligning the family constitution, corporate governance and investment objectives with the trust deed and letter of wishes of a family trust administered by a PTC
  • Are there alternative structures that complement the existence of the PTC?
  • Jurisdictional choice of PTC
Speaker:
  • Mr Edmund Leow SC - Senior Partner, Dentons Rodyk & Davidson LLP
2:45 – 3.00pm
Q&A
3.00 - 3.45pm
Panel Discussion:
What does it mean to be a Trustee?
  • Deep dive into the fiduciary requirements and administration responsibilities
  • Assessment and understanding of the powers, responsibilities, duties and potential liabilities of a trustee
  • What is the extent of the licensed trust administrator’s duties in a PTC when it comes to transaction monitoring, KYC and due diligence, especially in highly-complex trusts?
  • How families should organize themselves in discharging their roles as Trustee while remaining responsive to the family’s values, goals
  • Construction of the PTC board
  • How can they risk manage when they are double hatting roles that can potentially run in conflict?
What does running a PTC entail?
  • What is the administrative support required of the PTC?
  • In-house vs outsourced: What and when third-party resources such as administrative, compliance and other technical support should be considered?
  • Extension of the PTC to support other functions of the family?
  • Costs to setting up a PTC – is it cost-effective?
Speakers:
  • Ms Valerie Wu – Partner, Pinsent Masons
  • Ms Melanie Ison - Managing Director, Nerine Trust Company (Hong Kong) Limited
3.45 - 4.00pm
Q & A
4.00 - 4.20pm
Coffee Break
4.20 - 5.15pm
Panel Discussion:
When the PTC fails ......
  • Identifying risk areas where there is potential for a PTC to fail to perform its functions, eg. succession issues at Board level, family disagreements, inadequate risk management, failure of trustees’ and directors’ duties, etc.
  • Liabilities of the PTC, directors and officers
  • What exit strategies exist?
Speakers:
  • Ms Guo Jiawen – Counsel, ONG SIM HO Advocates & Solicitors
  • Ms Melanie Ison - Managing Director, Nerine Trust Company (Hong Kong) Limited
5.15 - 5.30pm
Q&A        ­­
5.30pm
Closing Remarks by Seminar Chair
Mr. Lionel Choi – Secretary, STEP Singapore Branch; Managing Director, Wealth Planning - LGT Bank (Singapore) Ltd

About the Chairperson: 

Siang

Mr. Lionel Choi – Secretary, STEP Singapore Branch; Managing Director, Wealth Planning - LGT Bank (Singapore) Ltd

Lionel Choi is Executive Director with the Wealth Planning team of LGT Asia, responsible for assisting clients on all aspects of succession planning as well as residency relocation needs of clients. Prior to joining LGT, he led the Singapore trust company of a reputable global, bank-owned trust business as its resident director and manager. He specialised in establishing and administering trust and fiduciary structures. He was responsible for the operation and supervision of a client relationship team and managing private clients’ estate planning interests. He also took an active role in business development, working closely with professional advisors in Singapore and internationally. Lionel began a career in law after graduating from the National University of Singapore with an LL.B (Hons) degree. He qualified as an advocate and solicitor in Singapore in 2000, practicing in an international law firm. He also qualified as a solicitor in England and Wales in 2003

About the Speakers:

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Ms Melanie Ison - Managing Director, Nerine Trust Company (Hong Kong) Limited 

Melanie Ison oversees the Asian market and is the Managing Director of Nerine HK. She has a wealth of experience advising HNW/UHNW families in providing tailored solutions for their succession needs, and has been offering professional fiduciary expertise for more than 18 years. Melanie is adept in structuring bespoke solutions for high-profile clients with a multi-jurisdictional exposure.
Melanie further lends her technical expertise in advising clients on family governance issues focusing specifically on generational-transition of wealth, and she also sits on the board of several companies.  She has written several articles for international publications and was named in the Citywealth Leaders List in 2014, 2015 and 2016, listed in the International Finance Centres Power Women Top 200 List in 2014, 2015 and 2016 and shortlisted Citywealth Woman of the Year, Leadership – Professional Services, IFC 2017.

 

 

Mr Edmund Leow SC - Senior Partner, Dentons Rodyk & Davidson LLP

Edmund is a senior partner heading up the firm’s Tax practice. He has experience in advising multinational organisations on cross-border tax planning, transfer pricing and tax disputes. He also advises on international trade issues such as customs, WTO and free-trade agreements.

Edmund also leads the firm’s Trust, Estates and Wealth Preservation practice, advising high net worth individuals, private banks and trust companies in personal tax, as well as in trust and estate planning matters. Edmund was invited by the government to serve as a Judicial Commissioner at the Supreme Court, serving from 2013 to 2016. On stepping down, he was appointed Senior Counsel in 2017. Prior to his appointment to the Singapore judiciary in 2013, Edmund was named a Tier 1 lawyer by The Legal 500 Asia Pacific for Tax in 2012. Edmund is a former President and an honorary member of the Singapore Trustees Association (STA).

 

Ms Guo Jiawen – Counsel, ONG SIM HO Advocates & Solicitors

Jiawen heads the Trust and Asset Protection 
Advisory team at Ong Sim Ho Advocates & Solicitors, a leading local tax la w practice. She specialises in advising high net worth families in the region on complex cross-border estate and succession planning and asset protection issues. Jiawen also advises trustees and other institutional clients on their fiduciary obligations and product offerings, including providing internal training for financial institutions in relation to tax and/or wealth management topics. Additionally, she advises on the regulatory and tax considerations for charitable structures and Singapore tax matters. She is the sole practitioner awarded by Legal500 in the category of Next Generation Lawyer for Private Wealth in 2017 and 2018. Prior to joining Ong Sim Ho Advocates & Solicitors, Jiawen was a Senior Associate in Drew & Napier LLC's Tax and Private Client Services Team and subsequently in Baker & McKenzie.Wong & Leow LLC's Tax and Wealth Management Team. 

 

 

Ms Valerie Wu – Partner, Pinsent Masons

Valerie specialises in tax, trust and fund work, particularly in the context of private wealth transfer and succession planning matters. She has been regularly advising clients ranging from families / family offices, trustees, private bankers, and fund managers for the past 18 years in key capacities, as a Partner in private practice, as Head of Legal of an asset management subsidiary of Singapore’s sovereign wealth fund, and as Director of Wealth Planning Asia Pacific for an European trustee.
She is on the panel of lawyers for many families / family offices, private banks and trustees, and is on Citywealth’s Leaders List 2016. Valerie was listed in the inaugural Who’s Who Legal for Private Client in 2013, and was also named in Legal Week's International Trusts and Private Client Elite, a list of 100 private client lawyers and advisors worldwide tipped to be "at the top of their field."
Valerie is called to the Singapore bar and also admitted as a Solicitor of the Supreme Court of England and Wales

Registration  Fees

Membership Type

Fees

Members of STEP 

$120

Chartered Institute for Securities and Investment (CISI) Singapore, CFA Singapore, CPA Australia, CPA Singapore/ISCA, 

International Fiscal Association (IFA), Law Society of Singapore, Singapore Corporate Counsel Association (SCCA),

Singapore Trustees Association (STA), Singapore Association of the Institute of Chartered Secretaries and Administrators (SAICSA) 

S$150

Others

S$180

 Download brochure HERE.

Continuing Professional Development

  •  Practice Area: Private Client 
  • Training Level: General
  • Public CPD Points: 2
Location :TKP Conference Centre, 55 Market Street #03-01, Singapore 048941
Contact :Email: This email address is being protected from spambots. You need JavaScript enabled to view it.; Tel: +65-31287781 (no 6 prefix required)
SILE Attendance Policy
Participants who wish to claim CPD Points are reminded that they must comply strictly with the Attendance Policy set out in the CPD Guidelines. For this activity, this includes signing in on arrival and signing out at the conclusion of the activity in the manner required by the organiser, and not being absent from the entire activity for more than 15 minutes. Participants who do not comply with the Attendance Policy will not be able to obtain CPD Points for attending the activity. Please refer to http://www.silecpdcentre.sg for more information.
Registrations are now closed

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