Protection Of Legitimate Creditor 's Interest In Legacy Management

"People’s Republic of China Law of Succession" to run for nearly30years, wasconfined to the legislative background, the law has been gradually reflected some agelimitations, no longer able to fully protect the new requirements under the newsituation. With constantly enriched material wealth and economic relations betweenpeople have become more frequent complex, after the death of the decedent, leavingwealth at the same time, the debt may be left to future generations. How to split theestate, debts between the heirs and estate creditors to achieve a balance of interests inlegislation and judicial practice has become an important issue. The existinginheritance laws focus on protecting the interests of the heirs, while protecting theinterests of the creditors of the estate just made some principled provisions on therights of creditors relief Heritage also lack of appropriate provisions in the neweconomic situation of heritage protection efforts inadequate creditors.In this paper, two cases of judicial practice of view, reflects the current law ofsuccession in the protection of the interests of creditors estate problems where the rootcause of these problems, both on the lack of legislation, there are limitations on thehistorical conditions. Inadequate legislation is mainly reflected in the lack of a lack oflegacy processing system, the lack of legacy debt system, inherited liability regimeactivities, responsibilities and obligations regarding the lack of these aspects heir. Themain limitations of historical conditions is reflected in changes in the legislativeenvironment is too large, the reform and opening up three decades, the contemporarysocio-economic and cultural development of the rapid succession activities havebecome increasingly open, socialization, there are night and day when the socialcontext of inheritance law enacted do not. With the continuous improvement of thelegislative level, in line with the strong demand of the international community;awareness of citizens continue to strengthen the rule of law, inheritance relationshipbetween different stakeholders represent different interest demands, they require equal treatment, advocates a balance of interests. Therefore, the amendments to the existinglaw of succession of perfect is imperative.How specific should be perfect, the author of the comparative analysis of thelegislation of the foreign interest for heritage protection of creditors, debt repaymentresponsibilities range from heritage, legacy debt, debt settlement order three levelsheritage of common law and civil law primarily countries and regions wereintroduced legislation of analysis, especially such as Germany, France, Japan,Switzerland, this is more typical of the legislation of the country has carried out adetailed analysis, to find common ground or similar place, that is entailed setting upconditions, restrictions abandon inheritance, right to protect the interests of creditorsto give an institutional guarantee.The authors draw on the successful experience of legislative cases by foreign andmerits, combined with China’s national conditions, has been drawing on the basis ofthe existing inheritance laws, has been discarded, put forward proposals to improvethree aspects of existing legislation. Inherited from the general principle, becomesunconditional entailed for conditional entailed; from the system construction isconcerned, the system administrator to build a new system; clear from the content ofthe legislation is concerned, to further disclaims inheritance time and method to beclear, be clear on the scope of legacy debt liquidation order to be clear on the legacyof debt.