Improvement On China Testamentary Trust Legislation

With the rapid development of economy in our country and the increasing of the total cost of our country’s national economy, the total cost of the individual and family wealth grow rapidly. It has become the focus of "rich second generation" that how to inherit personal wealth and enterprise property well and to avoid their children squandering their savings and property. Because of the traditional testate succession can not meet the current demand in heritage inheritance, western testamentary trust system began to arouse people’s attention. The testamentary not only can design personalized financing guarantee the basic requirements of offspring according to the specific condition of the client, but also can make huge trust property trust by the trustor to work and bind the principal interests of the family together through professional financial management mode, thus strengthen the family members’ cohesive force of wisdom and strength and enlarge the family industry to fulfill the dream that family wealth come to a boom. Testamentary trust system in our country was born with his trust system. Because of it’s short time, it has not set up a legal system which are correspond to the actual situation of testamentary trust. It shows a certain gap between Britain, the United States, Japan and other countries; At the same time it shows the numerous inconsistencies and uncoordinated with the existing "inheritance law" in our country, thus greatly weaken the testamentary trust law execution effect, even can not meet the testamentary trust needs under some special circumstances. How to construct a set of legal system matching with the testamentary trust system has become a important problem which the legislative office worth thinking about.The article summarized the problems existing in the system combined with the current situation of the testamentary trust system in China, and put forward the specific countermeasures combined with the testamentary trust system development present situation Britain, the United States, Japan and other countries, hoping to provide some certain guidance in Chinese legal construction and perfection in the testamentary trust system. Please point out the mistakes for correction if any.