Trust Deed

A trust deed is the founding document of a living trust, signed by the settlor and trustee, that brings the trust into existence and governs how it operates. It defines the beneficiaries, the trustee's powers and duties, how income and capital may be distributed, and the trust's vesting date. For a testamentary trust there is no separate deed — the equivalent terms live inside the Will itself.

Because the deed dictates everything the trustee can and cannot do, reading it carefully is essential before relying on a family trust in estate planning. Example: Anita's accountant checks the trust deed and confirms it allows the appointor role to pass to her daughter, so control of the family trust survives Anita's death. Amending a deed must follow the variation power written into it, or the change may be invalid.