Appoint a trustee and an alternate trustee and obtain their consent to their appointments. The trustee need not be an individual – banks and trust companies often act as trustees for a small fee.
Select at least one beneficiary. The beneficiary might be a relative, a friend or a charitable organization. The beneficiary need not consent, and he doesn't even have to know he has been named a beneficiary of the trust.
Draft the trust deed in duplicate. The trust deed should name the trust (the “John Doe Trust Fund,” for example), name the trustee and his alternate, name the beneficiaries, state whether the trust is revocable or irrevocable and instruct the trustee on how to distribute the trust assets. You might also list the initial assets of the trust. You may have the trustee distribute trust assets to beneficiaries in a lump sum or in periodic installments. You may give the trustee the authority to invest trust assets and distribute only profits to the beneficiaries, or you may allow the trustee unfettered discretion to distribute trust assets for the benefit of the beneficiaries.
Sign the trust deeds, and have the trustee sign them, in the presence of a notary public. Keep one copy and deliver the other copy to the trustee.
Transfer assets to the trust. If you donate cash, open a bank account in the name of the trust and deposit the cash into it. If you donate titled assets such as real estate or automobiles, change the name on the title to the name of the trust. If you donate untitled assets, transfer them to the control of the trustee – place jewelry in a safe deposit box, for example, and deliver the key to the trustee.