Who among the world s celebrities has set up family trusts?

Family trusts. It is a kind of property management method in which a trust institution is entrusted by an individual or family to manage and dispose of family property on behalf of the wealthy to achieve the wealth planning and inheritance goals of the wealthy, which first appeared in the United States after the 25-year economic boom period (1982 to 2007, known as the second gilded age of the United States). In a family trust, the ownership of assets is separated from the right to income, and once the wealthy entrust their assets to the trust company.

After taking care of it, the ownership of the asset no longer belongs to him, but the corresponding income is still collected and distributed according to his wishes. If a wealthy person divorces and divides their property, dies unexpectedly, or is collected for debts, the money will stand on its own and will not be affected. Family trusts are better able to help high-net-worth individuals.

Planning "wealth inheritance" has also gradually been recognized by China's wealthy people.

The official website shall prevail.

Beneficiaries: limited to family members including the settlor, but the settlor must not be the sole beneficiary.

OneFamily trusts. What are the main types of business?

Family trust business can be classified differently depending on the basis of classification.

1) According to the authority of the trustee of the family trust, the family trust can be divided into discretionary trust and fixed trust. Under the discretionary trust model, the trustee can decide on the distribution of the trust property and the operation and management of the property under the guidance of the settlor's wishes, and the trustee has more autonomy and assumes more responsibilities. Under the fixed trust model, the settlor has made more agreements on the specific design, asset investment management and property distribution of the family trust, and the trustee has relatively limited rights.

2) Family trusts can be divided into revocable family trusts and irrevocable family trusts according to whether they can be revoked after establishment. A revocable trust means that the settlor can revoke the trust at any time and get back the trust property, which makes the revocable trust more flexible in the selection of targeted assets and targeted beneficiaries, but after the revocation of the trust, the trust property will not be exempt from the recourse of the settlor's creditors and will be regarded as the settlor's property in terms of taxation. An irrevocable trust means that a family trust cannot be revoked at will, and assets can only be transferred to the beneficiaries through distribution.

Once the settlor has established a family trust, the trust property is independent of the settlor's property, and the settlor cannot modify or revoke the family trust without the consent of the beneficiary.

2. What are the main differences between family trusts and general capital trusts?

The difference between a family trust and a general fund trust is that:

1) The purpose of the establishment of the trust is different. According to the Notice of the Ministry of Trust on Strengthening and Regulating the Supervision of Trusts during the Transition Period of Asset Management Business, family trusts need to have the main purpose of "protection, inheritance and management of family wealth". At present, most collective trusts exist as fixed-income investment products, that is, the main purpose is to obtain investment returns.

2) The scope of beneficiaries is different, according to the Notice of the Ministry of Trust on Strengthening and Regulating the Supervision of Trusts during the Transition Period of Asset Management Business, the beneficiaries should include family members including the settlor, but the settlor shall not be the sole beneficiary, and the main purpose of the trust is to pursue the preservation and appreciation of the value of the trust property, and the trust business with the nature of special account wealth management and asset management attributes does not belong to the family trust. At present, most collective fund trusts are "self-benefit trusts", that is, the investor and the beneficiary must be the same person. This makes it easy to distinguish between the two.

3) The subscription threshold is different, "the amount or value of the family trust property is not less than 10 million yuan"; At present, the starting point of collective trusts is mostly 1 million yuan.

4) After the promulgation of the new regulations on asset management, many new restrictions have been added to the trust and asset management business, especially for multi-layer nesting and investment non-standard business, and the scale of trust has also shrunk.

A family trust is a trust set up by family members to manage and protect family property. Although a family trust can be a very useful financial tool in certain situations, it is not suitable for everyone. Here are some situations where a family trust is not suitable:

First, family trusts may not be suitable for those whose families are financially unstable. For example, if a household income is unstable or household debt is high, it may not be able to afford the high costs of setting up a trust. Second, if there is tension or mistrust between family members, the establishment of a family trust may exacerbate this bad relationship.

Because family trusts usually require close cooperation between family members, if there is a problem in the cooperation, then the family trust may not function properly, resulting in the loss of family wealth. Finally, if the number of family members is small, then setting up a family trust may not be necessary. Family trusts typically require a certain number of member changes to maximize their potential advantages, such as by reducing the tax burden and increasing the protection of family wealth.

Legal analysis: Family trusts started late in China, laws and regulations are not perfect, and there is no guarantee for the establishment in China. The Trust Law of the People's Republic of China has been in line with international standards in terms of the basic rules of trust legal relations, providing basic legal protection for family trusts.

Family trust is a kind of property management method in which a trust institution is entrusted by an individual or family to manage and dispose of family property on behalf of the wealthy, so as to achieve the wealth planning and inheritance goals of the wealthy.

Legal basis: Trust Law of the People's Republic of China

Article 17 Except for one of the following circumstances, the trust property shall not be enforced: (1) the creditor has the priority right to be repaid to the trust property before the establishment of the trust, and has exercised such right in accordance with the law; (2) Where the trustee handles debts arising from the trust office, and the creditor requests that the debts be repaid; (3) the taxes payable by the trust property itself; (4) Other circumstances provided for by law. The settlor, trustee or beneficiary has the right to raise an objection to the people's court against the enforcement of trust property in violation of the provisions of the preceding paragraph.

Article 15 Trust property is distinguished from other property for which the settlor has not established a trust. After the establishment of the trust, when the settlor dies or is dissolved, revoked or declared bankrupt according to law, and the settlor is the sole beneficiary, the trust shall be terminated and the trust property shall be regarded as his estate or liquidation property; If the settlor is not the sole beneficiary, the trust shall survive, and the trust property shall not be regarded as his estate or liquidation property; However, when the settlor who is a co-beneficiary dies or is dissolved, revoked or declared bankrupt in accordance with law, his trust beneficiary rights shall be regarded as his estate or liquidation property.