The trust account is one of the most commonly used legal tools in business and is the subject of numerous legal disputes. Due to the absence of a trust code, there are no uniform legal rules for the requirements of the trust account. Moreover, the protection of the trust accounts from creditors of the trustee and the settlor in compulsory enforcement and bankruptcy is unregulated. This thesis attempts to close the gap. First, the topic will be outlined on the basis of two rulings of the UK Supreme Court and the German Federal Court of Justice (BGH). Subsequently the rules set out in the German case law will be systematically analysed. The asset partitioning approach will then be chosen as the dogmatic starting point for the justification of the protective effect of the trust account. The trust will accordingly be qualified as a legal form for special patrimony, and the theory of special patrimony will be examined in depth. The crucial role of subjective and objective ringfencing in order to effect a partitioning of assets will be highlighted, and the rules in the jurisprudence critically evaluated from this point of view. The last chapter is a comparative presentation of Chinese trust law.