On Revision And Improvement Of China's Trust Law

In April 2001,the Congress of China promulgated Trust Law of the People's Republic of China,which established the trust system of our country.The introduction and establishment of trust system was a revolutionary innovation for the property management system of China,and the innovating values of this system had been growing in the following ten years.However,while the business trust has been rapidly developed in recent years,the system construction and practical development of family trust was lagging behind.With the research view of family trust,this article promotes the insufficient(for example,unclear property rights,obstacles to trust registration system,overmuch rights for trustor,lacking of supportive tax system,unclear system for beneficiary,the limit to civil trust under business trust)in the laws and regulations of trust by the means of studying the concept,legal features,functions and effect of family trust and discovering the current situation of the trust legislation and family trust,therefor it makes a deeper and further discuss and analysis.After the reference and comparison to the legislation and practice of trust developed countries,the article promotes suggestions for perfecting the legal system of family trust.First,the definition of trust should be clarified in order to avoid confused concepts;second,the regulations of tax for trust should be made,which regulating the tax scope and avoiding double taxation,and the policy of tax benefits should be perfected;third,the national trust registration system and the united transfer system of beneficial rights should be built;finally,the trust protector system should be introduced,and the rights for trustor should be limited,and the regulations of testamentary trust and purpose trust should be perfected,and the scope of business trust should be clarified,and the market of trust should be properly expanded so that these methods could make the most of the functions and values of trust.