Research On The Right To Change The Management Method Of Trust Trustees

The relationship between the rights and obligations of the parties to the trust constitutes the basic content of the trust system.When the reality of trust changes,in order to ensure the flexibility and sustainability of trust operation,the trust property management method need to be adjusted for it.Due to the differences of historical tradition and legal culture,the Trust Law of Britain does not confirm the client's right to change the trust property management method.However,the trust law gives the client the right to change the property management method,which is an active change to cater to the modernization of trust.lt not only meets the requirement of modern managerial trust to strengthen the supervision of trustees who are institutionalized,specialized and in a comparative advantage position,but also helps to resolve the balance of interests between trust parties.At the same time,the exercise of the right to change the trust property management method of the client must be appropriate and not unlimited.Specifically speaking,trust as a highly efficient means of property management,not only to deal with the rights and obligations between the parties inside the trust,but also to take into account the interests of the counterpart of the transaction in the external relationship of the trust.That is to say,the trust law must pay attention to the stability and efficiency of trust when designing the right to change the trustee's management method,regard the realization of the beneficiary's interests as the ultimate goal,respect the trustee's professional judgment and economic interests,and take into account the interests of the counterpart in the transaction.This also requires the client to exercise the right to change the management method only under necessary and reasonable conditions.Therefore,the reason for the client to initiate the change of management method is set as the change of circumstances.It is worth noting that the change of circumstances in trust law is not a direct application of the rule of change of circumstances in civil law,but must be adapted to the elements of change of circumstances in civil law according to the characteristics and requirements of trust system.On the basis of determining the"situation" in trust law should satisfy the characteristics of "saliency",force majeure,accidenis,beneficiaries' own reasons or significant changes in trust property status should be included;Trust law should not regard the establishment of trust as the time node for the change of boundary situation,but should take the subjective cognition of the client to the situation as the criterion of judgment;Because the basic idea of trust is"to be entrusted and to manage money on behalf of others",which aims to achieve the benefit of beneficiaries under the guidance of the purpose of trust,based on the function of trust system and the relationship between trust parties,the adverse consequences of the change of circumstances in trust law on the realization of the benefit of beneficiaries focus on the realization of the benefit of beneficiaries.In the case that both the client and the beneficiary have the right to change the management method,the trust law should pay attention to the function of trust efficiency in the establishment of the right to change the management method,and combine internal consultation with judicial relief.Under the background of trust collectivization and commercialization,it is urgent to construct a mechanism for forming the will of plural parties.At the same time,the trustee must do a good job in cooperating with the obligations and continue to perform the obligations.When terminating trust or changing the management methods of trust property,especially in transactional trust,the withdrawal mechanism of beneficiaries and trustees should be further improved to ensure the trust interests of the counterpart.