고령사회에서의 신탁의 역할 - 신탁의 공익적 기능에 주목하여 - = The Noteworthy Role of the Trust in the Aged Society

다국어 초록 (Multilingual Abstract)

Four distinct strengths of the trust are said to be the insolvency remoteness, dead hand control, the flexibility of the scheme, and the convertibility of the trust asset. The trust can play a noteworthy role in the aged society by maximizing these strengths. It should be noted that the trust can be used for the public interest as well as the private purpose. The trust can be utilized for securing the basic well-being of the elderly and aiding the management of the asset of the aged against physical or mental impairment. This article dealt with the role of the trust in the aged society extensively and the conclusion can be summarized as follows:
Firstly, the special needs trust should be adopted to secure the stable living of the elderly. The special needs trust can be accessible to the low-income household and provide social security to the elderly person, the beneficiary of the special needs trust. In addition, the trust for security can be utilized for the elderly. The trust asset as an immovable owned by the elder can be converted into the periodical payment to the elder, i.e. the beneficiary through the scheme of the trust for security. The discretionary trust should be galvanized for the elder to enjoy the benefit of the trust fully.
Secondly, the trust can play a significant role in solving the problem caused by the guardianship for the aged. Given by the fact that most of the guardians are relatives of the aged and the elderly person is vulnerable to misconduct by the guardian, the trust for guardianship should be utilized more often than now. Besides, the guardianship commenced by the contract should be supported by the trust since the trust enables the efficient supervision of the guardian and dead hand control of the asset.
Thirdly, the trust as a substitute for a will should be noted since it can pass down to the posterity not only the asset but also the value the deceased has cherished. The trust as a substitute for a will has more strengths than the will in many aspects such as flexibility and asset partitioning function. However, the current forced heirship has a negative impact on the utilization of the trust. Inflexible attributes of the forced heirship should be abolished to minimize the unnecessary decision cost and maximize the prophylactic function of the trust.