Where does the money come from?
The money needed to fund your trust deed usually comes from two sources, contributions and the sale of things that you own (your assets).
You will normally be expected to pay a contribution out of your income. Your trustee will advise you how much you should pay after allowing for what you need to live on each month. You will usually be expected to pay a contribution for 36 months.
A trust deed cannot be protected unless you convey all your assets to your trustee. It is your trustee's duty to realise the value of your assets. However, your trustee will normally allow you to keep essential things that you need for your house and family, like household appliances and children's toys. Your trustee may agree that you can keep your car if you need it for work and you are paying a contribution.
Your most valuable asset is likely to be your house. You will be expected to release the equity of your share of your house. Your trustee will help you to do this and explore options that avoid selling the house on the open market. They may, for example, allow another family member to buy out your interest or for you to arrange a remortgage at the end of your trust deed. You should discuss this with your trustee but remember that any money tied up in your house will have to be dealt with eventually and your trustee may have to sell your house.
It is important that you keep up repayments on your mortgage, because a trust deed won't prevent repossession if you fall behind on your mortgage.