The Theory And Practice Of Overseas Family Trusts And Their Implications For China

With the expansion of the scale of China's high net worth population,as an effective tool to inherit family wealth,family trust has entered China and began to attach great importance to various aspects.Due to the differences of social and historical environment and political and economic system,the development of family trust in China is also facing the process of localization.Based on the analysis of typical cases of foreign family trust on the system,this thesis studied the development process and the framework of the system of foreign family trust,and summarized the effect of foreign family trust in the practice and then combined with the lack of trust in the family;China development course,development direction and development path of trust system in the Chinese family carried out in-depth study and discussion.First of all,this paper discussed the origin of foreign family trust system and systematically studied the Roman law trust thought,the Germanic law "trustee" system,the British "Yousi system" and Islamic law "Waqf" system.Based on summing up the development and characteristics of family trust system in Britain,America and Japan,this thesis analyzed the development process of foreign family trust system.At the same time,the framework system of foreign family trust system was introduced from three aspects.As a theoretical study of foreign family trust system,this thesis focuses on the theory of portfolio investment,economic cycle theory,financial innovation theory and life cycle theory in western economics which are related to modern family trust system.This thesis has made an in-depth study on the legislation of foreign family trust system from two aspects: the legal relationship in family trust system and the legal status of family trust parties.This paper summarized the foreign family trust system,systematically analyzes and introduces the advantages and disadvantages of foreign family trust system and made an objective evaluation.Secondly,as for the typical case and analysis of foreign family trusts,this thesis selected a total of 11 foreign family trust cases,which were the United States Rockefeller family "six generations of the empire",the family trust hiding behind the two legacy disputes of Hong Kong richest woman Ruxin Gong,the asset security case of United States Adam brothers,the estate tax case of British Jim,the will revoke case of Ms.Spiel in Alabama of United States,the family trust failure case of Yanfang Mei,the wills trust case of Princess Diana,the heritage storm in Yingdong Huo family,the "three-point family" of Yangtze River Industrial Group Jiacheng Li,the family trust case of Dianxia Shen and the family trust case of Desheng Guo.Corresponding to the relevant content and based on comprehensive introduction,this thesis in-depth analyzed those cases.Thirdly,the development process of family trust system in China was introduced,including the trust of ancient China,the development of modern China's trust industry,and the development of family trust in China.This thesis made an in-depth analysis and objective evaluation of the family trust system from two aspects: the social environment,realistic foundation,legal dilemma and institutional barrier of family trust system in China.Among them,the fifth chapter is the core of this article.The development direction and development path in China were comprehensively and systematically elaborated from the legal level,system level,management level and operation level.Finally,through the analysis above,this thesis draws the following main conclusions: First,as the best family wealth management tool created by mankind so far,family trust has proved its own value well in the western world.Second,there is a long way to go for the family trust,if it wants to take root in China.Objectively speaking,the difference is obvious,the difficulty is great,the challenge is difficult and the road is tortuous,because China's specific national conditions,legal environment,people's ideas and the reality of society conditions.Third,Chinese people finish the economic road within decades while Western countries take centuries.Although there are many barriers to development,we still have reason to believe that we can transform the family trust with Chinese characteristics and make it become an effective wealth management heritage tools to support a better and more stable development of China's economic and society.