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A Trust deed is a legal document that comprises and sets out the terms and conditions of creating and managing a trust. It involves the objective of the trust established , the names of the beneficiaries and the amount of lump sum income they will receive and even the method by which they will receive the payment.
A trust deed is a legal agreement between you and your creditors to pay back part of what you owe over a set period. This is usually four years, but may vary.
Trust Reformation If a beneficiary or another interested party wishes to reform a trust, they must allege that a mistake was made when the trust was written. The reason for the mistake may be an error or fraud, and a mistake may involve law or fact.