Study On Testamentary Trust

The further mature of market economy has brought the huge change of property management method. So the testamentary trust into the public view. As import, testamentary trust have too much experience need to from abroad for reference and combining with China’s national conditions, to achieve localization. The author in this purpose, the thesis is divided into five chapters in this paper.The first chapter in China’s current economic rapid development today, the testamentary trust into people’s lives, provides people with more flexible and efficient handling of property. The author using comparative way to comb for testamentary trust research at home and abroad. The domestic current situation of the research include: the definition of the testamentary trust; Testamentary trust the basic structure and the system value of the research and the prospects of development of testamentary trust. Research status abroad is divided into the system of the testamentary trust connotation, value and testamentary trust system architecture of three parts. By analyzing, the author thinks that: 1, should be flexible to set up a testamentary trust form; 2, the ownership of the testamentary trust property into legal ownership and beneficial rights; 3, on the trust property registration counter.Paper in the second chapter, the author first to define the concept of a testamentary trust, defined the client through the way of wills, will the property must be transferred to the name of the trustee, the trustee according to the will of the testator, care for the interests of the beneficiary or other specific purpose of the trust property of a way of property management. Testamentary trust by favour, because it has the following functions: first, the height of the testamentary trust flexibility can ensure that the meaning of a testator full freedom; Second, testamentary trust can effectively reduce the family inheritance disputes, to properly take care of vulnerable groups; Again, the testamentary trust to guard against risks, ensure the heritage value does not decrease; Finally, the testamentary trust can realize legal tax avoidance. These features make the testamentary trust in modern society has been widely welcomed. Because of this, how to regulate and flexibly apply the testamentary trust system to the real life, has become a problem we need to continuously explore.Papers of the third chapter, the author from the legislative status quo of testamentary trust system in China, analyzes the problems existing in the system. At the same time, this paper expounds the necessity of perfecting the testamentary trust system in China: first, private(family) wealth inheritance in practice more and more be taken seriously; Second, the shortcomings of inheritance system; Third, the tax policy restriction; Fourth, the application field of testamentary trust is becoming more and more widely.In the fourth chapter of the article, the author in order to clear context, this paper discusses the extraterritorial legislation history and status quo of testamentary trust. Modern testamentary trust originated from Britain’s "reasons", it can be preserved because of the British common law and equitable "double track". With the development of economy, the testamentary trust system of Anglo-American law system countries is quite perfect, playing an increasingly important role in practice, especially is no longer confined to the field of civil, but moving to Banks and insurance. Mainland legal system country trust is from the Anglo-American law system is of high starting point, more is in the field of commercial trust is given priority to, as for the testamentary trust is got rapid development in recent decades. Testamentary trust system in the two law systems is the development of the testamentary trust provides a good reference.Thesis chapter five, the author first expounds the establishment of testamentary trust and effective conditions. Secondly, the author revolves around the will of the trust property, this paper clarifies the scope and independence, and the "double ownership" of the trust property in the Anglo-American law system is decomposed into legal ownership and beneficial rights to the trustee and beneficiary, respectively. Again, this article from the point of view of the effectiveness of the testamentary trust building in detail the three party’s rights and obligations of the testamentary trust system. Finally, the author discusses the change and termination of testamentary trust situation and its possible legal consequences.