2025 Releases
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      April 2025 Updates

      DOCUMENT UPDATES

      • 02/04/2025 Deed of Vesting (Discretionary Trust) - In the interview, added a question - "Does the Trust have an Appointor or a Principal?" and added additional tab when selected in the option list.
      • 02/04/2025 Related Party LRBA - Following changes were made:
        • Within the Legal Advice - Limited Recourse Borrowing Arrangement Documentation and the Superannuation Industry Supervision Act 1993, right after the wordings ""and we have assumed that the Trustee of the Fund has complied with the above obligations." added the "Please note that the registration of the mortgage is mandatory for compliance with legal requirements. Some states require the electronic processing of the mortgage. LY Legal does not advise on the registration of mortgages. For assistance with the registration process, you can contact Eventum Optimum at registrations@eventumoptimum.com.au. Both Michael and Rod, along with their legal team, will guide you through the process and outline the specific criteria for registering mortgages."
        • Within the Terms of the Holding Trust - under the Definitions and Interpretation, added the definition of ‘Single Acquirable Asset’ means an asset that is eligible to be acquired by a Self-Managed Superannuation Fund (SMSF) under a Limited Recourse Borrowing Arrangement (LRBA), in accordance with the provisions of the Superannuation Industry (Supervision) Act 1993 (SISA), where the legal title to the asset is held in a holding trust by the trustee of the SMSF for the benefit of the SMSF.
        • In the Loan Agreement Clause 1.1 Loan of Monies, removed the wordings "The Loan Amount may be pursuant to a Line of Credit between the Lender and the Borrower. The Loan Amount is to be found in Schedule 1."
        • In the Loan Agreement Clause 1.2 Term of the Loan Agreement, added the wordings "provided that the Loan term shall be a maximum of 15 years.".
        • In the Loan Agreement Clause 1.6 Lender to take charge over borrower's property, replaced the wordings "charge, mortgage, lien or such other encumbrance"" to ""security by way of mortgage".
        • In the Loan Agreement Clause 3.2 Lender's Rights on Termination, replaced the word "full" to "limited" and replaced the word "Borrower’s Property" to "Single Acquirable Asset".
        • Added the definition of ‘Single Acquirable Asset’ means an asset that is eligible to be acquired by a Self-Managed Superannuation Fund (SMSF) under a Limited Recourse Borrowing Arrangement (LRBA), in accordance with the provisions of the Superannuation Industry (Supervision) Act 1993 (SISA), where the legal title to the asset is held in a holding trust by the trustee of the SMSF for the benefit of the SMSF.
        • On Mortgage Deed, under Background, added (F) - The Parties acknowledge that the mortgage will be registered as required by law and, if applicable, electronically processed.
        • On Parties Agree, added (7) IT IS HEREBY AGREED AND DECLARED that the Parties will register the mortgage and, if applicable, ensure that it is electronically processed in compliance with relevant legal requirements.
      • 04/04/2025 The Protector - Removed duplicated point of Unsecured interests and potential issues and Mortgage and or PPSR Registrations within the Letter of Advice.
        Under the Point 4 - Purpose and Function of each document and Point 5 - Execution of these documents (all document explanation will now adjust depending on what document the users selected within the interview).
      • 04/04/2025 LRBA Holding Trust Pack Bank - Changed the clause 1(c) wordings within the Terms of Holding Trust:

        The Trustee declares that it holds the Trust Property solely for the benefit of the Trustee of the Fund and has no independent discretion or authority over the Trust Property. The Trustee must act exclusively on the written direction of the Trustee of the Fund in all matters concerning the Trust Property, except where required by law to act otherwise.
      • 04/04/2025 Trust Establishment & Upgrade documents - Change the wordings in clause 3.3(c) Unless expressly stated, a person who ceases to be a beneficiary shall not thereby be excluded from subsequently being re-appointed or becoming a beneficiary.
      • 08/04/2025 The LYD Will and EPOA, The Moat and Castle & The Protector - Within the Call Option Deed, adjusted the Clause 2.1(h) added $ sign before the value of payment of Option Holder.
      • 11/04/2025 Trust Establishment & Upgrade documents, The LYD Will and EPOA, The Moat and Castle & SMSF Establishment - Relatives clause(b) "a spouse of the individual or of any other individual referred to in a paragraph (a)" has been removed. (Within the Trust Documents)
      • 11/04/2025 SMSF Establishment - Added Minutes of Meeting within the Document.
      • 14/04/2025 Div7A Umbrella Loan Agreement - Following changes were made:
        • Adjusted the content index page depending on the document selected within the interview.
        • In the interview in the Documents Tab, under the Div7A Umbrella Loan Agreement, added an option to make it a Deed or an Agreement if both the Summary of Loans is selected. This option will only appear in Div7A Umbrella Loan Agreement option.
        • In the interview in the Documents Tab, under the Summary of Loans, added an option to make it a Deed or an Agreement. This option will only appear if Div7A Umbrella Loan Agreement option is not selected.
        • In the Resolution of Directors: The title will adjust if it's Agreement or a Deed "Resolution by Directors to Document the Summary of Loans under a Division 7A Umbrella Loan [Agreement/Deed]"
        • In the Resolution of Directors, added Lender's Name and Address on the sub-heading, added Lender's Directors Name in Directors Present section, and added Chairperson entity.
        • In the Resolution of Directors signing section, removed the word "Shareholders".
        • In the Whereas (B) removed the word "consideration" into "repayment".
      • 15/04/2025 Div7A Umbrella Loan Agreement - In the Notice of Draw Down Letter, under Acknowledgement and Acceptance section, added Signature space for the entity.
      • 15/04/2025 The Enforcer & The Protector - In address options, replaced 'SA' to 'South Australia' in line of legal requirements.
      • 15/04/2025 Fixed Unit Trust - (individual & corporate) - Following changes were made:
        • In Appointment of Trustee Section,  this wordings will only appear if the Trustee Type is an Individual: "Each Director has consented to acting as a Director until such time as they resign, retire or are terminated as a Director as per the Company's constitution. The Directors acting on behalf of the Company will be know as the Company Board.
        • In the Appointment of Chairperson Section, changed the wordings from "The Director have appointed [Entity Name] as Chairperson" into "[Entity Name] was appointed as Chairperson""
      • 17/04/2025 LRBA Holding Trust Pack Bank - Fixed the Borrowing Arrangement table formatting issue.
      • 22/04/2025 SMSF Deed of Variation - Moved the placement of Resolution right after the index and updated the index details according to the change of sequence.
      • 22/04/2025 Changes to Discretionary Trust Positions and Name - Fixed the letter of advice for the Change of Trust Positions.