Research On The System Of Testamentary Trust In China

With the continuous reforming of China's national economic system,people's issue of food and clothing would be satisfactorily resolved.At the same time,the people's private property is increasing and daily life is becoming increasingly abundant.To build the well-off society and realize the common prosperity of all the people of the China,more and more people will invest their idle funds in the wealth management market in order to realize their purpose of ‘money to make money'.Therefore,to make full use of the advantages of extensiveness and high degree of flexibility in trust content have enabled it to rise rapidly in China's wealth management sector and continue to grow and develop,It has important practical significance and long-term significance for satisfying the increasing investment demand of the people.As a special type of trust,testament trust allows millions of foreign families to avoid family disputes and achieve the inheritance of wealth.In contrast,since the introduction of the testament trust system in 2001,the trust has remained at the institutional level and has not been widely used in judicial practice.The reason why such a situation runs counter to the original intention of institutional design is inextricably linked to the existence of many defects in our country's testamentary trust system.Therefore,by analyzing the characteristics and operation of testamentary trusts,we find out its legislative defects and propose relatively specific and well-targeted suggestions for improving the maneuverability in the field of judicial practice which is aim to the current China where the compilation of civil code is in full swing are not only necessary,but also urgent.In addition to the introduction,this paper will study our country's testamentary trust system from the following four parts:The first part is the summary of testamentary trust system: including the concept,origin and development of the testamentary trust,and summarizes its unique value through comparative methods,that is,to ensure the autonomy of the testator,to reduce inheritance disputes and to preserve and increase the value of the heritage,to explain that China has already had the requirements and conditions for the development of testamentary trust.The second part is about the composition of the legal relationship of the testamentary trust.First of all,from the main elements of the legal relationship of the testament trust,the subject qualification of each party of the testamentary trust is introduced separately;secondly,analyzing the core issue of the legal relation-testamentary trust property,and introduced two unique legal attributes: independence and its identity;finally,analyzing the main content of the legal relation,and what right of the parties should be exercised and what obligations should be performed by the parties.The third part is about the operation of the testamentary trust system.It mainly includes the requirements for its establishment and the elements of entry into force;the main body,method and time for changing the power;the constitutional requirements for the termination of the trust,and its legal effects.The fourth part is about the problem that: the current legislative status of China's existing testamentary trust system,testamentary trust established condition exists contradictions,the unclear attribution of ownership of property,the impediments to practicality resulting from the registration of effective law,the absence of a mandatory share system,and the absence of restrictions during its existence.It puts forward some proposals for standardize the establishment of testamentary trust.,clarifying the ownership of property,establishing a registration anti-democratic system,limiting the duration of existence,and clarifying the requirements of the mandatory reserve system in testamentary trust.