The trust system in Britain has had an important influence in the world. Simply put, if A transfers the trust business to B as an individual, then B becomes the legal undertaker of the trust business, and A loses this right and cannot transfer it again. At this time, we should take responsibility for this business. At first, this law was resisted by many people, but with the development of trust business and social progress, people began to gradually accept and slowly expand this business internationally.

The Origin of British Trust System

In fact, the predecessor of the trust system was the usufructuary right in the Middle Ages? . At that time, this right was set to prevent the land from being transferred at will, and also to reduce the numerous burdens of those hard-working farmers. However, once the right to use obligation was born, it was transferred to many capitalist cakes. Because all the land belonged to the king at that time, the king lost the most. Later 1535, Britain directly legislated and passed the usufructuary right law. Mainly to prohibit those who accept the inheritance but are unwilling to pay taxes and taxes on fiefs. (Because Britain inherited his father's business at that time), many people paid a lot of taxes and lost a lot of excitement because of this regulation, so this law was resisted by many people. However, usufructuary right has been circulated for hundreds of years, and then gradually became a trust, becoming the most remarkable feature of Britain. After economic development, trust has gradually become an independent industry.

The British trust system was formally established in law.

1873, British balance law and common law system merged, and ordinary courts and equity courts merged to collectively recognize the recognition of trust relationship. Under the protection of English law, trust has really gained a foothold in Britain.

The development of British trust system

At the beginning, trust only applied to testamentary succession. Later, due to the gradual improvement of the trust system, the openness of people's minds and the progress of society, people's requirements for business have become diversified, and their requirements for individuals have become increasingly strong. Therefore, the trust business has gradually expanded from wills to property management, inheritance management and financial consultation related to personal finance. In the trust business, personal trust accounts for a relatively large proportion. Secondly, the entrusted bank undertakes various businesses of the trustee as a legal person, and most of them are concentrated in the big banks in Britain, and even set up special trust departments to provide customers with savings and financial services.

With the popularity of trust business in Britain, trust business is slowly expanding to overseas markets. In the end, the trust system in Britain changed from free to paid, from non-professional trustee to professional trustee, and from individual to legal person trustee. Finally, it became a professional business field.