HOW DOES IT ALL HAPPEN?
To form a Trust, a Trust Deed is prepared and signed. The Trust Deed specifies who the Settlor, Trustees and Beneficiaries are. The Trust Deed also provides the Trustees with a full range of administrative powers. This allows the Trustees to undertake virtually any action an individual could do.
In the Trust Deed the individuals establishing the Trust would normally reserve to themselves the power to appoint or remove Trustees and Beneficiaries, this is called the Appointor.