Philippines Private Client
The Virtual Round Table (VRT) series of talks will bring together senior industry practitioners to gain insight and understanding on legal, tax and private wealth issues facing UHNWI clients across Asia, particularly in light of the continuing COVID-19 crisis.
In this VRT we shall consider the application of Philippine divorce, succession and community property laws both within the Philippines and also where there is an International element.
Three unique case studies will be considered:
Case Study No. 1
This case study will consider application of Philippine divorce, succession and matrimonial community property laws to assets held in the Philippines as well as foreign assets held in the US and via a trust in Hong Kong. Philippine forced heir rights will be considered as well as potential "clawback" claims against trustees of foreign trusts. Application of Philippine community property law to foreign assets as well as foreign trusts will also be considered.
Case Study No. 2
This case study will consider application of US divorce, succession and matrimonial community property laws to assets and property held in the US, Philippines and via various trusts established in Hong Kong and Singapore. Potential US court orders varying the terms of foreign trusts will be considered, as well as application of US community property law to foreign assets and trusts.
Case Study No. 3
This case study will explore the practical process and procedure by which a Philippine family may obtain residence or citizenship in the EU as well as potential long term succession and community property law implications.