A trust deed is a written legal document that outlines the provisions of the trust as decided by the settlor. This docuement is imperative to the successful and legal administration of a trust as it stipulates the requirements and wishes of the settlor with respect to how the assets will be distributed to the selected beneficiaries. Starting Business are on hand to advise and guide you on how to draft your deed in line with the relevant laws. We can also examine your existing trust deed to establish if it is compliant with the applicable regulations and offer advice on ways to improve or optimize it.
For more information on trust deeds or to find out how Starting Business can assist you with your trust requirements, please Contact Us.
It is an essential written document drafted by the settlor or a professional person on behalf of the settlor to provide clear instructions as to how the trust must be administered. Without this document the nominated trustee will not be able to manage the activities of the trust in line with the requirements of the settlor. In principle, a deed or declaration of trust as it is also known, provides a framework and set of terms and conditions, by which the trustee must follow with due diligence. The nominated beneficiaries will also be declared in the deed as will the trust property and how the assets are to be distributed and when. The declaration of trust gives the settlor a great level of confidence in how it will be managed without their supervision.
Depending on the jurisdiction, the type of trust and the desires of the settlor, a deed may vary. However generally speaking, it should include the following information points (this is not an exhaustive list):