Who are the key parties for a Trust Deed?

A family trust is established by drawing up and executing a trust deed. There are three parties involved:

• The "Settlor" – this is you, the person wishing to establish the trust by putting an asset into the trust.
• The "Trustees" – these are the people who administer the trust and look after it for the beneficiaries.
• The "Beneficiaries" – these are the people who will ultimately get the assets or the benefit to them.