The Core Elements of the Trusts: From the Start of Three International Documents

The extensive application of trusts and trust laws has demonstrated that trusts, as an institutional tool with functional advantages in the realm of private wealth inheritance, on the one hand, offer an innovative framework for the transfer and management of personal assets. This serves as a valuable reference for non-trust law jurisdictions, displaying the distinctive structure of rights and obligations. On the other hand, for trust law countries, trusts born in different jurisdictions call for the adjustment and regulation of unified rules. Researching the core elements of the trusts can contribute to achieving these two goals. By carefully examining three international documents, this essay argues that each core element of trust intertwines to form a causal web: trust operates as a tool that protects beneficiary' interests and supports the fiduciary position of trustees (characterized by the separation of trust property). The location of ownership of trust property, however, remains an optional element determined according to local circumstances.