Recognition of Hereditary Trusts in Countries of the Continental System of Law
The article is devoted to the analysis of the experience of recognition of hereditary trusts in countries of the continental system of law. The issue of property management and its transfer to the heirs has always been actual either in theory, or in practice. In modern society, characterized by the increasing complexity of economic relations, it is easy to imagine a situation in which institutions existing in one legal system do not coincide with those adopted in another legal system, and at the same time are used by its subjects. This situation takes place in relation to the Anglo-American trust, which is becoming increasingly popular in the continental system of law countries. Objective: To analyze the use of the trust as a mechanism of transfer of assets by inheritance, to consider the approaches of a number of countries belonging to the continental system of law to the recognition of hereditary trusts and their legal effects and also to explore the practice to establish trusts. Methods: scientific methods of analysis and synthesis, as well as special legal methods, including historical and comparative methods. Results: as an institute of common law system, trust can be used by subjects of continental system of law for different purposes, including the disposition of inheritance estate. Conclusions: prior to adoption of the Hague Convention on Trusts courts of continental law countries have tried to assimilate this institution with well-known legal structures, mainly, the contract. After the Hague Convention on Trusts came into force, a number of participants gradually expanded, and the courts of the member states of the Convention no longer needed to look for analogues of trusts in their domestic law. Due to the flexibility and advantages of the institution of trust, its following use either by the subjects of the countries belonging to the continental system of law, or in respect of property in these countries, has no doubt. Hopefully, the Russian legislator will not remain apart from the trends of trust recognition and will adjust the private international law of the Russian Federation by rules, which would regulate the status and legal effects of trust as the institution of common law system.