Research On Testamentary Trust System

As an effective property management system, testamentary trust is widely used in allover the world. During the process of introducing the Trust Law in2001, we actuallyintroduced the testamentary trust system. In China’s mainland areas where such a State,however, namely legislative testamentary trust system, there are few precedents and practice.In Hong Kong, however, there are many successful cases, which solve the heritage ofproblems between the rich after they die by the testamentary trust system. This is becausethere is not a perfect auxiliary system to make this system could achieve better development.Through a brief introduction to testamentary trust system, this article put forward somerecommendations based on the analysis of the existing State of testamentary trust system inChina.There are four parts in this paper:The first part is the introduction of testamentary trust system, including its concept,source, and developments throughout the world. With a view to a better understanding oftestamentary trust system, then through comparative analysis method for comparison withrelated concepts, to get a deeper understanding of testamentary trust system. At last, the mostimportant point is to explain why develop testamentary trust system in China is so importantby the explanation of its unique features.The second part is about testamentary trust legal relationship. Elements in the first place,introduce subjects and their rights and obligations. Start with its concept, nature andcharacteristics, describes the core of testamentary trust-trust property. Secondly introducelegal establishment, alteration and termination of the relationship, including what kind ofterms it needs, in what kinds of circumstances it can change and which term can be changed,and when the conditions are met to terminate.The third part is about describing foreign-related systems. Due to restricted information,this paper only chose the United Kingdom, the United States and Japan to introduce trustsystem of the three countries, based on trust establishment, types of trusts, the trustee’s rightsand obligations, the remedy for the breach of trust, and so on.The forth part is to introduce the current situation of testamentary trust system in China,then analysis of problems, to solve these problems, learn from the advanced legislation, takinginto account the current situation of China, the author put forward some proposals: such as in what kind of conditions can a testamentary trust be effective, formulate a special rule for itspublic notice, provisions for violations of the legal portion system, and its duration.