超百单特殊需要信托产品落地 税负高企、监护痛点尚待破解

Core Viewpoint - The development of special needs trusts in China is gaining momentum, with over 20 trust companies offering more than 100 products, addressing the needs of disabled and elderly individuals, but facing challenges such as high tax burdens and complex governance structures [2][4][7]. Group 1: Industry Development - The special needs trust business is currently in a critical phase of establishing a regulatory framework, with significant interest from various stakeholders [2][3]. - As of 2023, more than 20 trust companies have launched special needs trust products, indicating a growing market [2][7]. - The introduction of real estate trust property registration trials in cities like Beijing and Shanghai is seen as a positive step towards expanding the special needs trust market [2][5]. Group 2: Challenges and Pain Points - High tax burdens associated with trust property registration and management are significant barriers to the widespread adoption of special needs trusts [5][6]. - The complexity of governance structures, including the roles of trustees and guardians, poses challenges for effective implementation [7][8]. - Trust companies face operational difficulties, such as delays in fund disbursement and the need for upfront payments for beneficiary care, complicating the service delivery process [7][8]. Group 3: Recommendations and Future Directions - Experts suggest that a more favorable tax regime for special needs trusts, aligning their tax treatment with that of individuals, could alleviate some financial burdens [6][8]. - There is a call for a collaborative ecosystem involving government, social services, and financial institutions to enhance the support system for special needs trusts [9][10]. - The establishment of public trustees could provide a solution for families with limited financial resources, ensuring broader access to special needs trust services [8][9].