Hong Kong film producer and entertainment tycoon Charles Heung recently revealed that he intends for his entire estate to be placed in a family trust, to be managed by his daughter-in-law, Taiwanese actress Bea Hayden, who is married to his eldest son, actor Jacky Heung. The decision sparked dissatisfaction from his younger son, Johnathan Heung. Charles also has a daughter, Cindy, from his previous marriage to actress Betty Ting.
Why They Skipped the Sons?
The 77-year-old Charles said he and his wife, Tiffany Chen, age 65, have agreed that the inheritance will not be directly distributed to their sons. He explained: “I have two sons, but I’m skipping them and giving everything to my two grandchildren. She (my wife) believes our two sons aren’t suitable to manage wealth. She has said before that our sons are the easiest to fool. If I give them the assets, it won’t be long before they’re cheated out of everything. It’s strange, my wife and I are both very shrewd, so why did we end up with sons who are so easily deceived? So there’s no choice. We would rather set up a family trust and have Bea Hayden manage it. We’ll just give our sons a monthly allowance, as long as they don’t starve, that’s enough.”
He explained that his deep affection for his grandchildren also influenced the decision and described Bea as financially responsible, frugal, and capable of safeguarding the family’s wealth to secure the grandchildren’s education and upbringing. He also noted that the arrangement sends a message to Jacky Heung to treat his wife well, especially since the money will be under her control.
“A Will Can Be Written in Advance, But Can’t Be Distributed Early”
Charles Heung admitted the decision angered Johnathan, who called it unfair. He blocked his son on WeChat and any contact must now go through his secretary. When Johnathan requested a meeting, Charles declined, saying he had no time and saw no need to meet.
The couple has imposed conditions within the trust. For example, grandchildren who immigrate to the United States would lose eligibility. He added that the current plan is meant to encourage his sons to become independent, so they won’t just sit around and do nothing with inheritance. Nevertheless, there’s room for adjustment in the future. “If we live long enough, In ten years, if I see someone performing well, I may reconsider,” he said.
As for their plans to leave an inheritance, he shared his two cents, “A will can be written in advance, but assets should not be distributed early. Before distribution, a son is a son. After distribution, a son may become the father.”
Photos: 向太Tiffany陳嵐
Drama Fan
Very shrewd man! He’s worked hard for his money, so wants to safe guard and ensure his wealth can be managed properly to benefit his children and grandchildren.