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How will my assets be distributed if I don’t have a Trust or Will?
How will my assets be distributed if I don’t have a Trust or Will?
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Written by Support
Updated over a week ago

Your assets will be distributed in accordance with s4 Intestates’ Estates Ordinance (Cap. 73). The family members of the deceased must apply for a death certificate and then apply for a grant of probate at the high court. Rule 21 Non-contentious Probate Rules (Cap 10A) provides that where a person dies wholly intestate, the persons having a beneficial interest in the estate shall be entitled to a grant to administration. For instance, the surviving spouse, children, or parents of the deceased.

If you have set up a trust which is managed by a licensed trust company, the trustee will distribute the trust assets reference to your wishes after your demise. You can set up a list of wishes including the beneficiaries, what they will get, and when shall the trustee distribute the assets to them. You can change the contents anytime. In this way, your family members do not need to go through all kinds of expensive and long statutory procedures. You also do not have to choose an executor(s). To avoid any dispute in the future, you are advised to make arrangements when you are of sound mind.

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