Minutes or Deed When Establishing a Discretionary Trust

The Deed is the core document establishing the trust

We often get asked why there are no trustee consent minutes or other minutes in the LightYear Docs discretionary trust, plus our leading member suite packages.  First and most importantly, the deed is the core document establishing the trust so there needs to be a trustee. The only place that a trustee can consent to being the first or initial trustee is in the deed as a minute is too late. You cannot have a trustee consent coming after the trust has been set up as the trustee is a key component of the trust. This is the same as the appointor which is why we have everything in the deed of establishment and all the parties to the deed signing.  Once the deed is executed then we can get down to business but it is so vital to put as much into the deed as is possible.