Inaugural conference set to analyse the impact on the legal market of the increase in Asia's super rich

Lawyers from across Asia will gather in Singapore next week (12 October) to discuss the impact of a dramatic rise in private wealth on the region's legal market.

The inaugural Legal Week Private Client Forum Asia – Legal Week's first conference in Asia – will bring together senior private client lawyers from across the region to discuss the challenges and opportunities that are posed by Asia's emergence as a private client powerhouse.

Among the speakers at the conference is Simon Michaels of Baker & McKenzie Wong & Leow in Singapore. He, like many lawyers in Asia, is anticipating an explosion of legal work as wealth transfers between generations.

"Something in the region of 80% of privately-owned wealth in Asia is going to pass to the next generation in the next 10 to 15 years," he said. "The bulk of this wealth is first-generation and it is fundamental that proper mechanisms for succession planning are put in place."

Lawyers in the region are predicting the emergence of a private client legal market similar to the one that has developed in the UK and Europe over the last 15 years.

However, the region's religious diversity is likely to have an important impact on the way private client law develops in Asia.

Mirza Namazie, a partner at Singapore firm Mallal & Namazie, said Singapore's legal system already has considerable experience of dealing with Islamic legal issues.

"Singapore's courts are familiar with questions dealing with the relationship between Islamic legal issues and trust law," he said.

He added that the courts in Singapore had ruled recently on inheritance claims where there were inconsistencies between the general law and Islamic religious law.

The conference will also feature several speakers from Hong Kong, which has historic importance as a centre for private client and family lawyers that is likely to be enhanced by the continuing growth of the Chinese economy.

Marcus Dearle (pictured), managing partner of Withers' Hong Kong office, said the landmark Hong Kong divorce case, DD v LKW, which established equality of division in such cases, is expected to have a major impact on the number of divorce cases in Hong Kong.

He said: "The next generation of the wealthy in Hong Kong are increasingly looking to pre-nuptial agreements and dynastic trust planning to mitigate the risks of financial claims following marital breakdown."

To register, book online, contact David Mills on +852 3411 4737 or Moira McCarthy on +44 20 7004 7436, by email at [email protected] or fax +852 3411 4811.