If you decide to set up a trust deed, you will need to see a licensed insolvency practitioner.
The insolvency practitioner will become the trustee for your trust deed. They will charge you a fee for setting up and running the trust deed. They are not allowed to charge their fees at an hourly rate. Instead they have to charge a single, fixed, upfront fee plus a percentage of the assets that they gather in as part of the running of the trust deed.
Insolvency practitioners’ fees vary and can be expensive. You might want to check the charges of a number of different insolvency practitioners before you decide which insolvency practitioner to use.