Research On Testamentary Trust System In China

Testamentary trust,as a kind of trust established in the form of a will,has the functional advantages of realizing the intergenerational inheritance of wealth,maintaining and increasing value,and avoiding inheritance disputes." The Trust Law of the People’s Republic of China was promulgated in 2001 and the The first Civil Code in Chinese history promulgated in 2020 mean that our country has established testamentary trusts in the fields of trust and civil inheritance.However,as a testamentary trust that spans the two major areas of trust and civil inheritance,the Trust law of the mainland of China does not provide detailed regulations on how to apply the system;the Civil Code of China also only provides for the testamentary trust A few figures stipulate-"Natural persons may establish a testamentary trust in accordance with the law".Apart from this,there are no other phrases concerning the application of the system.The deficiency of legislation makes it difficult for testamentary trust system to develop widely in practice in China since its establishment 20 years ago,and due to the lack of specific applicable rules and corresponding supporting systems,the practice of testamentary trust in our country does not match the actual needs.Therefore,it is particularly necessary to study the testamentary trust system.The first chapter mainly expounds the concept and development of testamentary trust system and the discrimination between testamentary trust and similar systems.The second chapter mainly discusses the problems existing in the testamentary trust system in China by explaining the legislative defects of testamentary trust and the imperfect supporting facilities related to the operation of testamentary trust.The third chapter mainly analyzes the relevant legislation of testamentary trust outside China and Taiwan region of China,and obtains enlightenment to improve China’s testamentary trust system.The fourth chapter mainly expounds the suggestions to improve China’s testamentary trust system,that is,to improve the relevant legislation of China’s testamentary trust system and improve China’s testamentary trust operation system.