| From 1978 to 2018,China has gone through 40 years of reform and opening up.The 40 years has witnessed rapid economic development and promoted the huge accumulation of private wealth.The "rich generation" who got rich in the reform and opening up grow into their twilight.Therefore,how to effectively manage and inherit family wealth has become a compelling problem.Family trust originates from the British System of Use,develops and expands in the United States,and then is followed by other countries of the continental law system.China also introduces this system.Family trust has become the most effective legal system in the world for rich people to solve the problem of family wealth inheritance.Compared with general trust,family trust ch0 aracterizes long entrustment period,uncertain beneficiaries and special purposes of trust.Therefore,it is different from the general trust in protecting the rights of beneficiaries.However,although the family trust in China has got certain development,it is developing in a low pace.The reasons are related with the traditional history and culture of China,and mostly,our current laws and regulations can not be well adapted to the development of family trust.Theories of the trust system are far from perfection and it has obstacle to apply those theories to practice.Besides,it is not clear that the most concerned problem,whether the right of beneficiaries can be guaranteed effectively.All these stand in the way of the development family trust.As a very mature system in common law,the basic framework of its legal relationship is a series of rights and obligations of the trustor,trustee and trust beneficiary around the trust property.As far as the essence of trust is concerned,it is set up for the trust beneficiary(or specific purpose),the beneficiary is the ultimate gainer of trust interests and the end-user of trust purpose.The beneficiary of trust and its rights should occupy the core status in the trust relationship.Therefore,if their rights are not defended,the trust system is difficult to promote and develop.The Trust Law of China was promulgated in 2001.Although it stipulates many provisons about protecting the rights and interests of the trust beneficiary,there still exists defects such as excessive rights of trustor which are in conflict with the beneficiary.Besides,it is very hard to find out whether the trustee fullfill obligations faithfully and prudently.There are still a lot of details not being included in the lawabout the dismissal rights of beneficiary.And it is not clear that whether the private trust could appoint trust supervisors.Whether the trustor establishes a trust,the trustee fulfills its obligations,the beneficiary exercises its rights,or the supervisor is appointed,all of the above can be attributed to the protection of the trust beneficiaries and their rights.The paper is written from the perspective of parties of the family trust,the trustor,trustee and beneficiary,as well as the supervisor who is only appointed in the public trust.It mainly expounds how to exercise their rights and fulfill their obligations,so as to protect the rights of the beneficiary to the maximum extent,and deals with how to balance their relationship from the perspective of beneficiary's rights protection when there is a conflict of rights between them.The first part of this paper is the basic theory related with the rights protection of beneficiary.It defines the concept of family trust and its beneficiary,and introduces the rights enjoyed by beneficiary,which is helpful for our research in the following part.The second part expounds the present situation and deficiencies of the rights protection of beneficiary of family trust in China,and analyzes relevant problems from various perspectives of the trust parties,aiming at some problems in the trust law.The third part is about the investigation and experience of related problems in Taiwan and outside China.The fourth part illustrates specific suggestions and countermeasures. |
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