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Wealth managers navigate a delicate dance when it comes to aging Asian tycoons and succession. finews.com's primer for the region reveals five taboo questions that children inheriting family businesses seldom ask.

1. Papa, when are you retiring? 

(Image: Shutterstock)

Succession planning is a touchy subject amongst Asian or Chinese families because longevity is viewed as a symbol of wealth and good health. Whilst part and parcel of conversations around succession planning, these topics are typically frowned upon as they are perceived to be «inauspicious» and bad luck for the family.

There’s also a conventional tendency for the next-gen to defer to the authority (i.e. the patriarch/founder), so as not to be seen as vying for the leadership role, noted Lee Woon Shiu, regional head of wealth planning at DBS Private Bank in an earlier interview with finews.com on the topic.

With longer lifespan and healthy lifestyles, this means that patriarchs of wealthy families may work well into their 90s, as in the case of Lee Shau Kee, Hong Kong's property tycoon, who recently stepped down as chairman of Henderson Land Development at the age of 91. Hong Kong gambling tycoon Stanley Ho, known as the «godfather» of Macau casinos, also stepped down at the golden age of 96.