A Study On Applicable Laws Of International Family Trust

The trust industry has developed rapidly since 2013.Faced with the contradiction between the urgency of family business inheritance and the shortage of successors,family trust came into being.However,There is a lack of a systematic understanding of family wealth management,awarenerss of the rising market,and the legislative guarantee of trust.Domastic family trust is stuck in a bottleneck,result in the condition where the high-net-worth individuals have adopted international family trust for the inheritance.At the present stage,on account of the difference concepts of trust and the substantive laws between Common law countries and Civil law countries,international family trust will inevitably encounter the legal conflicts.It is of great value to solve legal conflicts and clarify the application of laws on international family trust.This paper traces back about the different regulations of the two legal systems on the trust,and analyzes the causes of conflict of laws between them,so as to rectify the theoretical dilemma of the trust system.It is concluded that the two legal systems are not in the absolute opposite camp and that trust is not an obstacle to the national legal system but a tool for economic development.Therefore,there is no absolute obstacle to the transplantation of trust in the country of civil law system.In addition,based on the analysis of the legislative cases of international family trusts in the application of laws by using virtual cases,how to choose the law when applying international family trust laws should adhere to the principle of autonomy of will,the principle of classification,and the principle of independence.Combined with the status quo of domestic family trust legislation,this paper aims to correct the root issue of the trust system structure and provide some corresponding suggestions for the improvement of the Chinese application of laws on family trust.