| Budget Amount *help |
¥4,680,000 (Direct Cost: ¥3,600,000、Indirect Cost: ¥1,080,000)
Fiscal Year 2013: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2012: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2011: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
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| Outline of Final Research Achievements |
This research examines some important legal problems with regard to the
trusts having a power holder other than a trustee.
First, rights of beneficiaries provided by article 92 of the Japanese Trust Code should not be granted to third parties other than a trust administrator, trustsupervisor, or an agent of the beneficiaries. Second, it is a question of interpretation of the trust instrument, in light of all thecircumstances including the nature of the power, whether the power is for the holder’s sole benefit or for the benefit of the trust beneficiaries. Third, if the trustee knows or reasonably should know that the power holder’s direction violates a fiduciary duty that the power holder owes to the beneficiaries, the trustee should have a duty to provide advice to the power holder and to warn the beneficiaries of the fact that it could affect the beneficial interests of the trust.
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