Research On The Rights Of Trustees In Family Trusts

Family trust originated from the "Use system" in medieval England,and has unique functions such as tax planning and risk isolation of property that are not available in other property systems.Therefore,it has been the best choice for family wealth management and inheritance for hundreds of years,and is favored by wealthy families all over the world.On April 28,2001,the trust law was introduced,which laid a legal foundation for the development of family trust in China.However,since the implementation of the trust law,the development of family trust in China has only shown a state of "small lotus just exposed the sharp corner" rather than "blowout".Offshore family trust is often the first choice for wealth management and inheritance of domestic wealth families.In addition to the lack of trust tax system and imperfect registration system in the current trust law,the most important reason is that the rights of trustees are not perfect(or even lacking),which hinders the healthy development of family trust in China.The trustee is the core party in the family trust,which is related to the effective operation of the family trust and the realization of the purpose of the trust.The reason why the trustee can manage and run the family trust well is closely related to its extensive rights.The expansion of the trustee’s rights is not only the need of the development of trust in modern society,but also a trend of trust legislation in various countries.However,China’s trust law is the opposite.Therefore,this paper adopts case study method,literature study method and comparative study method,and takes the trustee’s right system of family trust as the research object.Firstly,the typical domestic family trust cases are used to introduce the current situation of the trustee exercising the right of family trust in China,and the defects of legislation are analyzed,that is,the imbalance of the trustee’s rights and obligations and the lack of the balance mechanism of the trustee’s rights.Secondly,through the analysis of the basic theory of the right system of family trust trustees at home and abroad,the author makes a good preparation for the Suggestions to improve the right system of family trust trustees in China.Finally,in order to return to the "financial management" by the people,generations of trust source,perfect the system of family trust,the trustee rights in our country,promote family trust market in China has grown vigorously,the author suggested that our country should be "safe" the trust law of the legislative value orientation into "efficiency first",reduce the interference to the trust by the trustor,the trustee more clearly legal rights,and at the same time in order to prevent the trustee rights to use,still need to introduce the trust supervisor system of the family,and in order to make the trustee to exercise rights guaranteed,more specification,should also expand the trustee subject scope,the standard further refine and diligence.