Research On The Development Of China's Family Trust Industry

More and more domestic high-ending people are attracted by the particular profitable features of family trust.Though family trust industry embraces a huge bright prospect in China,so far the whole industry is still at the startup phase.Family trust serves many vital features,such as trust property independence,the limited and continuous liability of the trustee,wealth succession,asset protection,taxation planning,and private protection.By researching family trust legal systems overseas,I found that the key features of family trust and a perfect legal system play a unique role in succession of family wealth in western countries.Based on the study of the family trust development and legislation evolvement in China,I insist that nowadays trust industry is at the primary stage,and the industry is facing many challenges,such as the lack of trust legal system,the insufficient right of trustee,the impracticality of trust registration system,and the need for adjustment of trust taxation system.By learning the experience and advantages of those western countries that are fully developed in family trust,on purpose of finding practical solutions to family trust I advise to improve legal system,develop more products,induce more professionals,launch supportive policies,so as to promote the development of family trust in China a step forward.