Research On Notarization Institution Serving As Trustee Of Testamentary Trust

The Trust Law of the People's Republic of China,passed in 2001,stipulates three kinds of trust modes: civil trust,business trust and public trust.Since then,business trust and public trust have made great progress in China,but civil trust has developed slowly.As a testamentary trust in civil trust,it is difficult to take steps,and many of them are parties to testamentary trust.People take the purpose of keeping trust property and protecting beneficiaries' life,but no one takes over.Lack of qualified trustees is also one of the important reasons for this situation.It is proposed that the trustees of such testamentary trust should be constructed by a notary institution with abundant disposal ability,statutory confidentiality obligation,good credit system and objective justice.An important way to promote our civil trust business from theory to reality is a new direction.Firstly,this paper introduces the practice of testamentary trust in China,the shortcomings of Trustees such as trust companies and natural persons,and the needs of notaries as trustees of testamentary trust.Next,the article analyzes the necessity and feasibility of the notary institution acting as the trustee of testamentary trust,and puts forward that the notary institution can act as the trustee of testamentary trust conditionally.Because of the limitation of the notary institution's financial management ability,the article puts forward the admission conditions and the entrusted procedure for the notary institution to act as the trustee of testamentary trust.In order to protect the legitimate rights and interests of the trustee and the beneficiaries,the article finally clarifies the obligations of the trustee and the liability for breach of the agreement,as well as the rules of the notary in the process of acting as trustee of testamentary trust and solutions.