Japanese Trust Law No.1 Welfare-oriented Trust

On September 30 last year the Japanese New Trust Law has become effective, and also this fall(9/30), the part of the law, “self-declaration of trust” which had been postponed for a year, has come into effect.
In Japan there are great hopes that the trust spread among people as “The Welfare-oriented Trust” that means the management of property for elderly adult, impaired person and physically challenged.
I understand that the declaration of trust is widely used as the Living Trust among US citizen mainly for avoiding probate and that the trusts also provide the other important advantages which the Restatement mentions.
But In Japan there isn’t the probate procedures; there is nothing beyond the closed-door verification procedure of written will, called “Kennin”, which is independent of the validity of the will in question. It doesn’t take so much time and money.
In order to take advantage of the trust, above advantages are reviewed and examined in consideration for the present social conditions in Japan.