Research On Legal Issues Concerning Testamentary Trust Trustee

In recent years,with the development of economy,personal wealth has increased dramatically,and everyone has to go through the process of birth,aging,illness and death,among which the inheritance dispute caused by death is the focus of our attention in today’s society where personal wealth is expanding.For wealth owners,it is very important to arrange the things left behind and the distribution of inheritance in time.Testamentary trust system can meet people’s diverse needs for wealth inheritance.After the death of the client,the client entrusts the property to the trustee to achieve the purpose of property management and wealth appreciation.Its effect is just like the client managing the property himself,serving the beneficiaries according to the testamentary trust agreement and optimizing the distribution mode of the inheritance.Among them,as an important party in the testamentary trust relationship,the trustee is in the core position of controlling the trust property.In practice,the problems of the trustee in the execution of testamentary trust are more prominent.This paper intends to make a comprehensive analysis of the possible problems in the trustee’s behavior in China.The first part,on the basis of explaining the necessity of testamentary trust trustee regulation and the structure of testamentary trust trustee system under the background of civil code,analyzes the main problems existing in testamentary trust system.Since the application of this system in China,the situation that people manage their property in this way is increasing day by day.Understanding the legal logic behind the testamentary trust trustee system and its existing problems is helpful to the application of this system in China.The second part mainly puts forward some suggestions on the problems existing in the trustee selection mechanism.This paper focuses on what kind of subject can be the trustee in the testamentary trust,and analyzes whether the special subject unincorporated organization and notarization institution can be the trustee.In view of the unreasonable way of appointing new trustees,this paper puts forward that the mode of selecting trustees by the court should be added,so as to reduce the risks arising from improper selection of trustees in the process of property management.The third part mainly puts forward some suggestions on the problems existing in the trustee’s obligation rules.Thanks to the application of the Trust Law,the obligations of the trustee of the testamentary trust also follow the provisions on the trustee in the trust.However,the obligations of the trustee are mostly abstract and principled,and it is impossible to specify the problems in the execution of the testamentary trust and lack the supervision of specialized personnel.Therefore,it is necessary to improve and refine the obligations standards and add a supervisor system to establish a stable and safe testamentary trust relationship.The fourth part,mainly on the testamentary trust trustee’s responsibility for breach of obligations,puts forward some suggestions.The trustee should perform the responsibilities under his role orientation.If the trustee fails to properly perform his duties,he may commit illegal acts that infringe on the testamentary trust property,such as concealing property,failing to correctly invest and appoint a new trustee,failing to act according to the requirements of the trust documents,etc.The legal provisions on penalties for harming the interests of the trustor or beneficiary are sketchy or even blank.This part puts forward some solutions to the problems existing in the liability undertaking after the trustee violates the provisions,so as to ensure the smooth implementation of the system.