Notary Model Discussion For Testamentary Trust

Testamentary Trust is a kind of property management system includingthe programs that the entrusting party concludes the content of propertyplan in the testament about the heritage management, distribution,application and delivery after this trust and transfer the trust assetsto the entrusting party according to the trust content by the trustingparty to manage and deal with the trust assets when the testament takeseffect.The Trust Law in this country focuses on the trust about the assetsfor investment mainly used for specifying and having the commercialbusiness for trust. It seldom mentions the civil trust presented bytestamentary trust, which makes the "testamentary trust" still on thestage of theoretical research. Nevertheless, the requirement in thesociety has been increasing for testamentary trust, and the people whoneed it always express it directly to a notary office who takes part inthe testament distribution as a national character with the position ofneutrality.In the applicable field for Testament Law in China, the notary officeis the only authority to deal with testament among the organs without theright of sues. The notary office owns rich experience in the fields notonly about testament set but the execution of final trust. Thetestamentary trust is a kind of trust model with a testament as theeffective carrier, i.e. the testament includes the trusted content whichcan be regarded as trusted testament for short. It meets the socialrequirement with the legal evidence to have the notary office to deal withthe notary matter for trusted testament and provide service with law andsupport for the testator i.e. entrusting party to have testamentary trust.With such a background, it is a kind of new thinking to perfect the testamentary trust system in China that to establish the notary model fortestamentary trust to make the testamentary trust done from theory topractice with the notary office as the entrusted party for testamentarytrust.The essay is made up of three parts. The first part is the introductionabout testamentary trust system with the method of comparative analysisto analyze the elements about testamentary trust definition, character,documents for establishment and the main qualification of the entrustedparty from the development information about testamentary trust indifferent countries.The second part is to demonstrate the planed notary model fortestamentary trust from the fields such as the positioning of notary modelfor testamentary trust, the necessity and feasibility to establish thenotary model for testamentary trust, the element on limiting thedevelopment of the notary model for testamentary trust in this country,and the suggestion for improvement.The third part is to introduce the programs establish the notary modelfor testamentary trust suitable in China.Finally, the conclusion expresses that it is a kind of new thinkingto perfect the testamentary trust system in China that to establish thenotary model for testamentary trust, and it is also a nice supplement orforesight to basically perfect the property testament system in China.