The Terms of Service lie, how do we fix it?

This issue we all face it, some abuse it and some can't find a way to fix it.

The terms of service contain so much formal text in order to be recognized legally, we are aware that the user does not read it still we eventually enforce the users to sign their souls to the devil without having a clue of what they are doing.

i am looking for an effective approach for designing terms of service to ensure that users know or at least have a sufficient idea on what the heck is going on, for the sake of an example take a look at https://stackoverflow.com/legal/terms-of-service

How can we enable the users to be actually aware of what they are agreeing upon when accepting the terms of service?