The Research Of Testamentary Trust System In China

In recent years,with the dramatic rapid economic development and the improvement of household income level,there is a great demand of personal financial management.People want to take a scientific approach to manage their treasures,and also want keep the wealth under the control of their generation and generations to come.The system of property inheritance come into being and exists with the emergence of private ownership.Since humanity society departed from primitive communes,succession system has been being the most important adjustment model to society relationship.Trusts,simply speaking,is a system that manages property for others' interests.However,a testamentary trust is one created by being written into a will to provide for management of assets to be inherited by beneficiaries.Trusts,created by will,have special structure in theory,which makes it become a instrument to overcome the main defaults which lie in the law of succession.Due to the advantage of testamentary trust,it has become one of the most popular method of testamentary succession and wealth management.Because the reason of the limitation of history and legislation,testamentary trust system in our country did not develop well,so we must amend the contents concerned in trust law and relevant laws.This paper mainly expounds the legal issues of testamentary trust,offers a comprehensive analysis and knowledge,and then discuss how to indigenize the system better.This article is divided into four parts as follows.The first part is the overview of testamentary trust.First,explains the origin of trust and the formation of testamentary trust.Second,describes the definition and legal feature of testamentary trust system..Third,makes a detailed comparison of other similar legal system.The second part is the summary of the development of testamentary trust in some representative countries,which include common law system countries,represented by the United Kingdom,the United States,and also civil law countries and region,represented by Germany,France,Japan and Taiwan.The author make an analysis and comparison of the their national system,social basis,historic culture in order to get well known of the legislative background.Also summarize some valuable references and revelations of their legislation,intending to provide theoretic support to implement the testamentary trust in our country.The third part is the status quo of testamentary trust in China.This part mainly contains the analysis of current legislative situation and judicial actuality,with studying the related cases,and points out the deficiencies and the existing problems of testamentary trust system in our country.The fourth part is mainly talk about how to improve the testamentary trust construction.On the basis of the foregoing context,puts forward the significance to perfect testamentary trust system in our country.At last,in view of existing problems and obstacles,the author makes her endeavor to throw out some legal solutions.