Legal basis: People's Republic of China (PRC) Trust Law.
Article 9 To establish a trust, its written documents shall specify the following items:
(1) the purpose of the trust. (2) Names and domiciles of the trustor and the trustee. (3) Beneficiaries or the scope of beneficiaries; (4) The scope, types and conditions of the trust property. (5) The form and method for the beneficiary to obtain the trust benefits.
In addition to the matters listed in the preceding paragraph, the term of the trust, the management method of the trust property, the remuneration of the trustee, the way of the new trustee, the reasons for the termination of the trust and other matters may be stipulated.
Article 15 Trust property is different from other properties for which the trustor has not established a trust. After the establishment of the trust, if the trustor dies or is dissolved, revoked or declared bankrupt according to law, the trust will be terminated, and the trust property will be his inheritance or liquidation property, but if the trustee is not the only beneficiary, the trust will survive, and if the trustor dies or is dissolved, revoked or declared bankrupt according to law, the beneficial right of the trust will be his inheritance or liquidation property.
Article 51 After the establishment of a trust, the trustor may change the beneficiary or dispose of the beneficiary's trust beneficiary right under any of the following circumstances:
(1) The beneficiary has committed a major tort against the trustor. (two) the beneficiary has a major infringement of other beneficiaries; (3) With the consent of the beneficiary. (4) Other circumstances stipulated in the trust documents.
The trustor may terminate the trust under any of the circumstances listed in Items (1), (3) and (4) of the preceding paragraph.