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Research On Testamentary Trust System

Posted on:2011-12-27Degree:MasterType:Thesis
Country:ChinaCandidate:X X YeFull Text:PDF
GTID:2166360305481632Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
Testamentary Trust is held in the will of testator who wishes to dispose of his property to transfer right to the trustee who manages and disposes of the property on behalf of himself or the intended beneficiary in the will of testator. Testamentary Trust has a very long history; there was similar system since Roman Age. The obvious advantage can be found in value preserving and increasing of legacy, long term planning of legacy and avoiding dispute, etc. Testamentary Trust can cover the disadvantage of testamentary succession and bequest system. Therefore, some countries like UK and US have a very sound Testamentary Trust system. The civil law countries such as Japan transplanted and localized this system. This dissertation put forward some proposal to our Testamentary Trust system through the comparison of two genealogies of law, with the hope of advancing the Testamentary Trust system in our country.There are four parts in this dissertation.The first part is about the history of Testamentary Trust. It will introduce the origin of trusteeship, development and function of Testamentary Trust system. The following function will be stated in this dissertation, value preserving and increasing of legacy, providing better guarantee to autonomy of the will, reducing family dispute on the legacy and saving tax legally.The second part is about our current Testamentary Trust system. It will introduce the law source of our current Testamentary Trust system, and then the specific content will be introduced, comparing with the system in UK, US, Japan and Taiwan. The content includes the relative parties and trust estate of Testamentary Trust, and the establishment, change and termination of Testamentary Trust. The relative parties include trustor, trustee and beneficiary, their qualification, right and obligation will be introduced respectively, in order to confirm all the contents related to the subject of Testamentary trust. For the trust estate, the characteristics and means of public summons will be analyzed in this dissertation. The basic characteristics include severability, independence and identity; the mean of public summons is the register of trust estate. At last, the establishment, change and termination of Testamentary Trust will be researched in this dissertation, including essentials of becoming effective, the content and condition of change, and the termination condition of Testamentary Trust, etc. The third part is about the problems in the development of our Testamentary Trust. One is the defect of the trust system, including the conflict between China Trust Law and other laws, and the defect of China Trust Law; the other is the obstruction of people's perspective and social actuality in development of Testamentary Trust.The forth part is about the proposal of improving our Testamentary Trust system. First, it will discuss the necessity of improving our Testamentary Trust system; and then it will put forward proposal of improving this system, including proposal of amending China Trust Law in aspects of the form of Testamentary Trust, establishment and trust estate register of Testamentary Trust, etc; bringing notary system in some courses of Testamentary Trust, by which necessary assistant and consultation can be provided by notarization organization to improve the influence and public credibility of Testamentary Trust; and constantly improving credit system by using foreign experience for reference.
Keywords/Search Tags:Testamentary Trust, Inheritance Law, Transplantation of Law, Register of Trust Estate, Beneficial Right
PDF Full Text Request
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