信托的风险隔离功能还值得信任吗？

Core Viewpoint - Recent cases of trust property being executed by courts have raised concerns about the independence and risk isolation functions of trusts, leading to questions about the validity and effectiveness of trusts in protecting assets [1][2][3] Group 1: Trust Validity and Execution - Trusts can be "pierced" under three circumstances: the trust is invalid from the start, the trust is valid but the property can be executed by law, and the trust property is executed incorrectly [1][2] - An invalid trust may arise if the trust property does not meet legal requirements or if it was established to harm creditors' interests, leading to forced execution of the trust property [1][3] - A valid trust may still be subject to execution if the settlor retains ownership or control over the trust property, making it vulnerable to creditors [1][3] Group 2: Recent Case Analysis - In a recent case from Nantong, the legitimacy of the trust fund in question is uncertain, particularly if it involves illegal funds, which would render the trust invalid from the outset [3][4] - Other cases, such as one involving a trust established with marital assets for an extramarital affair, highlight the issues of legality and public order, which can invalidate the trust [3][4] - A complex case in Shandong involved illegal medical assets, where the trust's validity depended on the source of the funds and whether they were mixed with illegal proceeds [4] Group 3: Understanding Trusts - Trusts are a product of social needs and have evolved over time, with family trusts becoming more common among the general public [5][6] - Misunderstandings about trusts often lead to concerns about their potential misuse for fraud or legal evasion, despite their ability to help families isolate risks [5][6] Group 4: Risk Isolation Mechanism - The independence of trust property is crucial for risk isolation, with absolute independence from the trustee's other assets and relative independence from the settlor's other assets [8] - There are exceptions to this independence, including obligations to certain creditors, control by the settlor, and failure to transfer property to the trustee [8] Group 5: Future of Trusts - The effectiveness of the trust system relies on balancing risk isolation for beneficiaries and protection for creditors, ensuring that trusts are not misused to evade legal obligations [9] - The emergence of family trusts has increased the complexity of legal issues surrounding trusts, necessitating better implementation of trust laws and public education on trusts [9]