On The Legislation Of Tesamentary Trust In Inheritance Law

Testamentary trust is a new way of dealing with inheritance and a new extension of the freedom of testament.Article 13(1)of the Trust Law stipulates that the establishment of a testamentary trust shall comply with the provisions of the inheritance law on wills.This provision entrusts part of the regulations of the testamentary trust to the inheritance law,so that the testamentary trust has a unique structure that spans the two jurisdictions of the inheritance law and the trust law.How to respond to the regulatory requirements put forward by the Trust Law has become an important consideration in the revision of the Inheritance Law.This article uses the Article 13(1)of the Trust Law as a logical starting point to analyze the feasibility of the testamentary trust,testamentary inheritance,and bequests being listed under the testament system,and to examine the principles of the freedom of testament in the inheritance law and the mandatory regulations on the establishment of testamentary trust.Applicable issues,while demonstrating the allocation of parties' responsibilities and the balance of interests during the execution of a testamentary trust.The full text is divided into four chapters:The first chapter introduces the theoretical basis of testamentary trust.The testamentary trust has a three-party structure and can correspond to the subject of the current inheritance system.The validity of a trust is based on the certainty of elements,and the establishment of a will trust cannot ignore the general characteristics of the trust.The testamentary trust has the attributes of civil trust,single legal act and cause of death act.It is heterogeneous from other trust systems and cannot fully apply thecurrent trust laws and regulations.The second chapter analyzes the feasibility of the inheritance legal system of testamentary trust.The regulatory models of multiple testamentary trusts will be analyzed from the perspective of comparative law.The single trust law model has the problem of system compatibility.The coexistence of trust law and inheritance law and the single legislative model of testamentary trust have high legislative costs,and lead to the separation of departmental laws.China's current legislative policy influences the choice of models.The perspective of inheritance law will produce a system coordination effect,which is in line with the current legislation in China.The third chapter explains the application of inheritance laws and regulations in the establishment of testamentary trusts.The principle of the freedom of testament applies to the establishment of testamentary trusts,and the designation of trust beneficiaries should be allowed to break through the limitation of the capacity of civil rights.Beneficiaries can be the persons who will be born in the future.Successively;multiple ways of dividing trust property in wills should be allowed.The establishment of a testamentary trust should follow the dual provisions of the inheritance law and the trust law on the form of testamentary trust.The establishment of a testamentary trust shall retain the necessary share of estate for holders of the required and special rights.The fourth chapter expounds the application of the inheritance law norms in the execution of testamentary trusts.Execution of a testamentary trust begins with the transfer of trust property.In the absence of a principal,the executor or heir should transfer the property.The trustee shall execute the testamentary trust with the care duty of a good administrator.If the loss is caused by fault,he shall bear the liability for damages.If the execution of the testamentary trust damages the interests of the creditors,the creditors may revoke the will trust according to the trust law,or they may request the debt to be paid off.The latter is more conducive to balancing the interests between the parties.