• Create the trust and trust deed

    A trust is an arrangement where a person or company (the trustee) holds assets (trust property) in trust for the benefit of others (the beneficiaries). A super fund is a special type of trust, set up and maintained for the sole purpose of providing retirement benefits to its members (the beneficiaries).

    To create a trust, you need:

    • trustees
    • assets (an initial nominal consideration to give legal effect to the trust can be used – for example, $10 attached to the trust deed)
    • identifiable beneficiaries
    • the intention to create a trust.

    A trust deed is a legal document that sets out the rules for establishing and operating your fund. It includes such things as the fund’s objectives, who can be a member and whether benefits can be paid as a lump sum or income stream. The trust deed and super laws together form the fund’s governing rules.

    The trust deed must be:

    • prepared by someone qualified to do so – it's a legal document
    • signed and dated by all trustees
    • properly executed according to state or territory laws
    • regularly reviewed, and updated as necessary.

    Next step:

    Last modified: 16 Jun 2015QC 23313