There is no statutory time limit set in Hong Kong Ordinance.
Nevertheless, the time limit is 6 years, based on the statute of limitation.
The statute of limitation governs how much time you have in case you need to sue in a court of law to resolve disputes. Once those 6 years have passed, you may not be able to resolve disputes.
For example, the deceased had an investment account managed by a bank. That account has been mismanaged once the deceased has deceased. If you are the sole beneficiary of the account, you must inherit the account as soon as possible and sue within 6 years. Otherwise, the loss can't be recovered.