On The Testamentary Trust System In China

Testamentary trust,as a legal instrument that has existed for hundreds of years,has been maturing in the process of development and derived different development modes in different parts of the world.The testamentary trust,with its excellent legal properties such as wealth inheritance,avoiding disputes and satisfying the will of the testator,has set off a boom of development all over the world.In the Trust Law of the People’s Republic of China promulgated in 2001,the testamentary trust system was first written into the laws of China.With the continuous improvement of China’s economic strength and social progress,testamentary trust provisions have been added to the Civil Code · Succession Code issued in 2020,which has further laid a legal foundation for the development of testamentary trust.However,the relevant legislation is still not perfect.In order to meet the needs of diversified wealth inheritance in contemporary society,this paper will make an in-depth study on the status quo,defects and legislative perfection of China’s testamentary trust system.The article is divided into four parts:The first part is the overview of testamentary trust system.This paper focuses on the definition of testamentary trust,the origin of testamentary trust and the function of testamentary trust.Testamentary trust can help people realize many demands such as estate management,inheritance of wealth,reasonable tax avoidance,avoiding disputes over property,etc.Especially in countries of common law system,testamentary trust has a long history of development,perfect system design,and has been widely used.The second part is the present situation and existing problems of testamentary trust system in China.This paper analyzes the deep reasons why testamentary trust in China has not developed in an all-round way.Secondly,from the establishment and effectiveness,property ownership,change and termination,trustee candidate appointment,other supporting system five aspects of the analysis,for the next part of the investigation of foreign systems to do the groundwork.The third part is the investigation and analysis of the foreign testamentary trust system.From the foreign testamentary trust legislative system,effectiveness,trustee appointment,property transfer,duration of existence,supervision mechanism of six aspects of the discussion,elaborated the foreign testamentary trust system to improve our country’s testamentary trust enlightenment.The fourth part is the perfection of testamentary trust system in our country.Combined with the development experience of other countries,aiming at many relevant problems existing in China’s testamentary trust,this paper puts forward theoretical guidance and legislative suggestions for the improvement of China’s testamentary trust from the legislative and institutional aspects.