Chinese immigrants and those who have maintained personal or business ties to Hong Kong or China face estate planning challenges. Ease some of those challenges by working with a lawyer who speaks your first language.
Lawyer Sunny Lu has extensive estate planning experience and speaks fluent Mandarin. This allows you to plan your wills, trusts, and other estate vehicles in the language you’re most comfortable with, ensuring your questions get answered fully and the process moves efficiently.
Any family who has more than $100,000 in assets will benefit from the estate planning process. Without it, you are leaving the government of British Columbia to decide how your hard-won assets should be distributed. You are walking away from vital tax-planning strategies that can protect your family’s wealth. Let Ms. Lu protect your family.
International Estate Planning for Chinese Immigrants in Langley, BC
It takes a sophisticated strategy to protect assets across international lines. Ms. Lu will take special steps to ensure your wishes are honored. The way your wills, trusts, living gifts, and other asset classes are handled will need to be protected from both Chinese and Canadian taxes.
In addition, China at times imposes stock asset restrictions, asset freezes, and other issues which can keep your heirs from obtaining the full benefit of your legacy. Ms. Lu understands how to work around these complex and troubling issues.
In some cases you may even need a notarized will that’s unique to Hong Kong or one that is valid in mainland China as well as one that is valid in Canada. Ms. Lu will ensure these instructions work well together and protect your assets on any shore.
Finally, Ms. Lu is an accomplished business and real estate lawyer. This experience gives her the knowledge that she needs to create strategies to protect any businesses you may own or other investments that you may have created during your lifetime.
See also: Mandarin Chinese-Speaking Business Lawyer in Langley and Mandarin Chinese-Speaking Real Estate Lawyer in Langley, BC.
Guardianship Planning for Chinese Families
Chinese-Canadian families face special challenges when they attempt to secure their children’s futures in the event of their death. Who do you want to care for your children? A relative living in Canada? A relative still living in Beijing?
If you want your children to go back to China there will be challenges in getting the Canadian government to accept your decision. If your relative is here in Canada the process will be easy, but you’ll still want to make sure that your decision is legally protected.
In addition, your death can cause immigration issues for your children. These will need to be accounted for during the course of your case.
Ms. Lu has extensive experience with immigration and family law as well as with estate planning. This means that she has the experience to craft solutions that will work for your family.
Litigation for Disinherited Chinese Daughters
While Chinese traditions may guide fathers to provide for sons instead of daughters, this kind of asset distribution is illegal in Canada. According to British Columbia’s Wills, Estates, and Succession Act, will-makers must make adequate provision for all adult children regardless of their gender.
If a will-maker fails to live up to legal obligations the children, most often daughters, may launch estate litigation to claim their rightful share of the inheritance. While small deviations in awards may be accepted by Canadian courts, large, blatantly unequal shares will not be. Disinherited daughters across Canada have been highly successful in pressing their cases.
Don’t settle for less than your due. If you’ve been disinherited, reach out to Ms. Lu to get help today.
If you are engaged in the estate planning process then please allow Ms. Lu to guide you to the creation of a will, trust, and estate structure that Canadian courts will accept. While it is important to honor tradition, if you fail to create a valid will and estate plan you will essentially be forfeiting to Canadian courts. You will also waste large portions of your estate on legal fees, probate costs, and taxes that you could have avoided. Ms. Lu can also help you provide for your spouse’s future.
Elder Planning for Chinese Families
Estate planning is about more than your death. It’s also about planning for your elderly years.
While many Chinese parents hope their children will care for them, it is still important to secure your wishes with a series of legal documents. For example, a health directive will help you communicate your wishes in the event that you suffer an incapacitating illness or injury. A medical power of lawyer will give the child of your choice the ability to make medical decisions on your behalf. A general power of lawyer will give your children power over your finances, or you can set up trusts that will spend money as you direct.
We can even engage in the process of long-term care planning so that your wishes are honored when it comes to whether you want home care or a facility, or the providers that you trust. If you do wish a family member to care for you in your golden years, Ms. Lu can ensure your caregiver has the financial support to do so successfully.
Multi-Disciplinary Will and Estate Planning for Chinese LPRs and Canadian Citizens
Ms. Lu has a depth of experience that’s difficult to find. All of this experience can help you develop a truly elegant estate plan that protects your family’s future and meets your unique needs. She has handled estate planning for many high net worth international families here in Langley, and she can help you, too.
You can start estate planning at any age. Don’t wait until circumstances take decisions away from you. Make an appointment with Ms. Lu by calling (604) 609-7777 today.