Step Three: Settle your trust deed!A nominated Settlor (someone who is not a beneficiary) signs the trust deed. This person is usually the accountant or lawyer.Step Four: Are your trustees on board?By this stage of the process, your appointed trustees should be aware of their responsibilities according to the terms of the trust as they have been outlined in the trust deed. Once the trust deed has been settled, your trustees will then sign it.Step Five: Stamp dutyIn order to formalise documents, you usually have to pay a stamp duty in order to validate them. This will also have to be done with your trust deed. The stamp duty payment varies according to region. For example, it is AUD 500 in NSW.Step Six: Finish up!Once all of the above steps have been completed, all you have left to do is to apply for a Tax File Number (TFN) and an Australian Business Number (ABN), both of which can be done online.We hope this guide is helpful in breaking down the steps to creating a discretionary fund. It’s really not that scary although it can seem overwhelming. Good luck!