Much like a contract, where if you can establish offer, acceptance, consideration and intention to create legal relations you can show a contract exists – with trusts, if you can establish intention to create a trust, what the trust property is and identify the beneficiaries, then you can show a binding trust exists.
Even so, it is often wise to commit the oral contract or trust to writing to avoid future disputes about who-said-what and having to prove the contract or trust exists. As in most cases, a stich in time saves nine.
A deed of confirmation can also be handy where a trust deed has been lost, an all too often occurrence.
Contact Pace Lawyers for advice on preparation of these and other commercial documents to streamline your business and family operations. Please call us on 8410 9294 or send an email via this form.