Introducing the Special Needs Trust to Hong Kong
- Date & Time:
September 10, 2019 (Tue) | 5:00 – 6:00 p.m.
Room 929, 9/F, The Jockey Club Tower, Centennial Campus, HKU
Professor Lusina Kam Shuen Ho
Professor, Department of Law
Ms Rebecca Wing Chi Lee and Professor Lusina Kam Shuen Ho received the university-level KE Excellence Award 2018 for the project ‘Introducing the Special Needs Trust to Hong Kong’.
The research and proposal of Professor Lusina Ho and Ms Rebecca Lee directly led to the setting up of the special needs trust (SNT) in Hong Kong to provide otherwise unaffordable professional asset management service for individuals with special needs. The scheme benefits the families of some 250,000 individuals with special needs. It reassures parents that upon their passing, their children’s well-being will not be unduly affected.
Their proposal was adopted by the HKSAR Government, which pledged funding of HK$50 million in the 2018 Budget to launch the SNT. In having a government act as trustee, Hong Kong’s SNT is the first of its kind in the world. They also achieved impact at phenomenal speed – from research in 2014 to launch of service in 2018. The impact has now reached South Korea, which decided in 2018 to launch an SNT.
Their project received the University’s Knowledge Exchange Excellence Award 2018.