2025 Releases
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      August 2025 Updates

      DOCUMENT UPDATES

      • 01/08/2025 Deed of Vesting (Unit Trust) - Added Variation Date Option for the Recitals (A)
      • 04/08/2025 SMSF Will with Death Benefits Protection Trust - Removed the Signatories and replaced with "TO BE EXECUTED AT THE TIME OF ESTABLISHMENT".
      • 05/08/2025 Upgrade of Discretionary Trust to a Family Protection Trust (Non-Foreign Person) - Following changes were made:
        • Updated the following section within the index page.
          6.) Categories of Income
          15.) Governing Law and Jurisdiction
          16.) Dispute Resolution
          Schedule 1
        • Updated the recital wordings (1.) into - "<Trust Name> ('the Trust') was established on <Date of Establishment> ('the Deed') and varied on <Variation Date>."
        • Updated the recital wordings (2.) into - "The Trustee seeks to vary the Deed, with the consent of the Appointor, pursuant to clause <Clause Ruling> of the Deed."
        • Updated the Provision wordings (4.) into - "Variation: The Trustee hereby varies the Deed, with the consent of the Appointor, pursuant to Clause <Clause Ruling> of the Deed."
        • Updated the Provision wordings (6.) into - "No resettlement at Law: The variation constituted by this deed, does not constitute a resettlement of the Discretionary Trust in law of equity."
        • Reorganised lphabetically the Definition and Interpretation section.
        • Replaced all the wordings of "FPA" with "Family Protection Appointor".
        • Updated the definition of "Family Protection Appointor" into "are the persons identified in the following table, with the respective Appointorship changing to the next in line, whether singly or jointly, in the event of bankruptcy, incapacity, resignation or death of the current Appointor:"
        • Replaced the wordings "In the event that there is no FPA the Trustee is to offer the role to a Beneficiary of the Trust who is a descendant of the original FPA. If there is no FPA or Trustee, the role of FPA is to go firstly to the Legal Personal Representative of the last FPA and if none then the Legal Personal Representative of the last Trustee. The FPA may appoint themselves as Trustee provided, they are not the settlor. The offered person may accept and become the next FPA. It also includes such other person given the power to appoint or remove a trustee by clause 7.1 of this deed." into "The Family Protection Appointor has the powers and responsibilities as set out in clause 8.".
        • Removed the definition of 'Bloodline Relative'.
        • Updated the wordings of Foreign Person means (a) - "foreign person (or equivalent term) as defined in:"
        • Updated the wordings of Foreign Person means (f) - "any individual, entity or other body or class of individuals, entities or other bodies expressly and irrevocably added as a Foreign Person in accordance with this deed from time to time, and for the avoidance of doubt, this definition of Foreign Person may be expressly and irrevocably expanded from time to time in accordance with this deed (for example, if and when additional duty and/or land tax surcharge regimes in other States or Territories are introduced or revoked in the future)."
        • Added definition of ‘Notional Sub-Fund’ means a purely internal, book-entry compartment of The Trust Fund that: 
          a) is established by minute of The Trustee for administrative convenience only and created without any transfer of legal, equitable or beneficial title so that no new or separate settlement, trust fund or trust relationship arises and leaving The Trust as a single discretionary trust;  
          b) allows The Trustee to notionally allocate specified assets, liabilities, reserves, assessable income, deductions and expenses to it, with those items remaining part of the one Trust Fund and available to meet the liabilities of The Trust as a whole, may appoint a Sub-Fund Manager (with the prior written consent of The Family Protection Appointor) whose non-binding investment and distribution recommendations The Trustee must consider, may charge direct Sub-Fund expenses and apportion general expenses (including group-wide tax liabilities) on a fair and reasonable basis, and may sell, mortgage, lend or otherwise deal with Sub-Fund assets without regard to their notional status so that third parties may rely on The Trustee’s title free of any Sub-Fund notation; and  
          c) has no separate vesting day, may be collapsed or merged by The Trustee at any time by book entry, and is subject to an ATO and trust-splitting safeguard construing references to “allocation,” “segregation” or “control” so as not to effect a partition, resettlement or trust split likely to attract CGT event E1 or E2, stamp duty or a loss of accumulated tax or accounting balances."
        • Updated definition of ‘Relatives’ includes relative of an individual and means:"
        • Added definition of ‘Tax Use Benefit’ means a compensatory amount payable between Notional Sub-Funds when The Trustee determines that one Sub-Fund (the “Benefited Sub-Fund”) has used, or will use, tax attributes (for example, tax losses, franking credits or foreign income tax offsets) that were generated or notionally allocated to another Sub-Fund (the “Contributing Sub-Fund”). It is computed by: 
          a) basing the amount on the actual reduction in The Trust’s consolidated tax payable attributable to the Benefited Sub-Fund’s use of those attributes; 
          b) applying a gross-up if needed so that the Contributing Sub-Fund is placed in the same post-tax position it would have held had it retained the attribute; and  
          c) if more than one Benefited Sub-Fund uses the attribute, apportioning pro-rata to the benefit received, it is recorded as an inter-Sub-Fund receivable/payable as at the year-end to which the tax benefit relates, with payment terms as The Trustee decides. 
          It is an internal re-allocation rather than a distribution of Income or capital for trust law or tax purposes; The Trustee may depart from the general formula if it considers another method more equitable—provided it acts for proper purposes, gives real and genuine consideration to all Beneficiaries and records reasons in the minutes—and no Tax Use Benefit is payable to the extent it would give rise to a resettlement or new trust estate or contravene The Trustee indemnity or limited recourse provisions of this deed.
        • Moved the definition of The Act right after the Termination Date.
        • Removed the wordings "The Trust shall be governed by, and this deed shall be construed in accordance with, the laws of <State Variable>." from The Trust Fund definition.
        • Under the Beneficiaries clause (3.1). The clause (e),(f) and (g). This will only appear when selected "Yes" in question "Is any of the Primary Beneficiaries a Company".
          e) Any entity that is a Related Body Corporate (as defined in the Corporations Act 2001 (Cth)) of The Family Protection Appointor;
          f) Any individual who, at any time before the Termination Date, is or has been a director or shareholder of The Family Protection Appointor, provided that such person is not a Foreign Person;
          g) Any other company, trust or entity that is controlled by, or under common control with, The Family Protection Appointor within the meaning of section 50AA of the Corporations Act 2001 (Cth), established before the Termination Date. "
        • Under the Additional Beneficiaries (3.2) updated clause (c) Former Beneficiaries of The Trust when a prior or former Family Protection Appointor was in position as the Family Protection Appointor may be added as a Beneficiary with the consent of The Family Protection Appointor in writing.
        • Under the Deletion of Beneficiaries Updated the clause (3.3)(a)(i) into "if by deed the beneficiary not being a minor unconditionally declares that they are no longer a beneficiary of the Trust and serves a properly executed copy of such deed on the trustee; or"
        • Under the Deletion of Beneficiaries Updated the clause (3.3)(a)(ii) into "where the trustee with the consent of the FPA by resolution or deed declares that a person or a class of persons is no longer to be included as a beneficiary."
          Under the Deletion of Beneficiaries added the clause (3.3)(a)(iii) "the deed or resolution referred to in sub paragraph (i) and (ii) above, if not expressed to be irrevocable shall be irrevocable."
        • Under the Deletion of Beneficiaries Updated the clause (3.3)(c) into "a person who ceases to be a beneficiary shall not thereby be excluded from subsequently being re-appointed or becoming a beneficiary unless irrevocably excluded previously."
        • Added the clause (4.6) Subsequent exercise of power. A trust declared or effective in respect of income paid, applied, or set aside for a beneficiary shall not be affected by the subsequent exercise of any power of revocation or amendment of this deed.
        • Added the clause (4.7) Allocation to be irrevocable. Determinations or resolutions of the trustee allocating income as hereinbefore in this clause provided shall be irrevocable and the income of the Trust Fund shall be dealt with as required by such determination or resolution.
        • Updated the clause (7.1)(a) - "during the lifetime of the Family Protection Appointor, the Family Protection Appointor unless the Family Protection Appointor resigns for any reason whatsoever or the Family Protection Appointor is incapacitated, or under bankruptcy;"
        • Updated the clause (7.1)(b) - "on and from the date of death bankruptcy, resignation, incapacity of the Family Protection Appointor such other person or persons, as the Family Protection Appointor may nominate under the definition of The Family Protection Appointor in this deed or by a separate Deed of Succession, or by their Last Will and Testament; or"
        • Updated the clause (7.1)(c) - "In the event there is an inconsistency in the nomination of Successor Family Protection Appointors as mentioned under the definition of The Family Protection Appointor in this deed or in a separate Deed of Succession, or in a Last Will and Testament – the nomination in the document that is last executed shall be valid."
        • Updated the clause (7.2) - "In executing the Deed of Succession, The Family Protection Appointor may:"
        • Updated the clause (7.2)(c) - "alter the succession order of the successor FPA, as delineated in the definition of Family Protection Appointor in clause 1 of this settlement, if any."
        • Updated the clause (8.3) from "Cessation of FPA" into "Joint Family Protection Appointor".
        • Updated the clause (8.3)(a) - "Where there are more than one Family Protection Appointors, they are to act jointly by way of majority."
        • Updated the clause (8.3)(b) - "Where the current Family Protection Appointor is a joint Family Protection Appointor, and one of them is incapacitated, resigns or is deceased, the surviving Family Protection Appointor is to remain as The Family Protection Appointor solely, unless a prior Deed of Succession, signed by the current Family Protection Appointors provides otherwise."
        • Updated the clause (8.4) "Succession FPAs" into "No right to enforce appointment".
          Successor Family Protection Appointor so removed or displaced in the chain of Family Protection Appointor, under the provisions of this deed, have no rights or entitlements to enforce any claims over the Family Protection Appointor position."
        • Updated the clause (8.5)(a) - "If the Family Protection Appointor has died or is incapacitated, the Legal Personal Representative of the Family Protection Appointor, with their consent, is to become the Family Protection Appointor, unless the Legal Personal Representative is in litigation or is to commence litigation against the current Trustee. If there is more than one Legal Personal Representative they may choose one or more to become joint Family Protection Appointor."
        • Updated the clause (8.5)(b) - "If applies the above does not apply, then the Trustee is to become the Family Protection Appointor and if the Trustee is a company then the Directors of the Trustee are to be appointed as FPA or joint Family Protection Appointor, subject to their consent."
        • Updated the clause (8.5)(c) - "If none of a), b), applies then the last Beneficiary who is a lineal or bloodline descendant of the original Family Protection Appointor, or the last Beneficiary who The Trustee distributed to or are to become Family Protection Appointors."
        • Updated the clause (9.1)
          More than one Person being a Trustee
          If more than one Person is a Trustee, decisions shall be made by the majority of the trustees except that if there is no majority, the Family Protection Appointor is to have a casting vote as if they were or are a trustee."
        • Updated the clause (9.7) Release of Power
          Unless a power or discretion which may be exercised by the trustee is by the terms of this deed required to be irrevocable, the trustee may release or revoke any power conferred upon it by this deed. Any other person upon whom any power is conferred by this deed may release or revoke any power conferred upon them. Upon the exercise of any release or revocation pursuant to this paragraph, the power to release or revoke shall be absolutely and irrevocably determined."
        • Updated the clause (10.2) Specific Powers of Investment "The trustee shall have the power to apply or invest any monies requiring or available to be invested under this deed in any investment of whatsoever kind or nature as the trustee in its discretion shall think fit notwithstanding that any such investment is not by law authorised for the investment of trust monies or that the investment does not produce income or that no dividend or interest is payable in respect thereof and whether or not the investment shall involve waste or be subject to liability with or without security and otherwise upon and subject to any terms or conditions as the trustee shall in its absolute discretion think fit. In particular, without restricting the generality of the foregoing, the trustee shall have the power to:"
        • Updated the clause (10.2)(a) - "Apply or Invest: any monies requiring or liable to be invested under this deed either alone or in partnership or co-ownership with any person or persons."
        • Updated the clause (10.2)(l) - "Commodity contracts: in the acquisition of foreign currencies, hedging contracts, commodity contracts and options or future contracts of any kind which are quoted on a recognised stock exchange;"
        • Updated the clause (10.3)Power to Vary Investments
        • Updated the clause (11.1)(d) "Derivatives: to acquire, dispose of, exchange, hire, lease, let, mortgage or otherwise deal with any derivative which term is taken to include but not be limited to any interest rate swaps, currency swap, currency option, interest rate option, swap option, smart forward, money market transaction, foreign exchange transaction, margin foreign exchange transaction, futures transaction, forward rate agreement, forward rate bill transaction, synthetic forward exchange transaction, deposit transaction, currency transaction, interest rate transaction, bond option, commodities option, credit derivative, or an equity derivative;"
        • Updated the clause (11.1)(g) "Employment: to engage or employ persons including a person having an interest in The Trustee or who holds an office of the trustee, or obtaining other assistance as the trustee may deem requisite, to provide staff, amenities and to vary and terminate any contract of employment;"
        • Updated the clause (11.1)(oo) "Legal proceedings: to institute, join in and defend proceedings at law or by way of mediation or arbitration and to proceed to the end and determination of, or to compromise the same and to compromise and settle any such dispute or proceedings for such consideration and upon the terms and conditions as the trustee may decide;"
        • Added the clause (11.1)(vv) "Tax elections: The Trustee may in writing make, vary or revoke any election, option, declaration, choice or notice with any taxation, revenue, stamp-duty or other fiscal authority (including, without limitation, a Family Trust Election or Interposed Entity Election under Schedule 2F of the Income Tax Assessment Act 1936 (Cth)) and execute any instrument or do any act ancillary or conducive to giving effect to that election."
        • Added the clause (11.1)(ww) "Tax Use Benefit Equalisation: The Trustee may in writing determine, calculate, allocate, record, vary or reverse any Tax  Use  Benefit between Notional Sub-Funds, apply any gross-up or apportionment it considers appropriate, and execute any instrument or do any act ancillary or conducive to giving effect to those adjustments (including creating or offsetting inter-Sub-Fund receivables or payables and setting payment terms), provided The Trustee acts for proper purposes, gives real and genuine consideration to the interests of all Beneficiaries, and records its reasons in the minutes."
        • Removed wordings "This sub-clause is irrevocable if the trust holds residential property in <State Jurisdiction>; or" within the clause 12(a).
          Updated the clause (14.2)(a)(iii.) "delivered or posted by ordinary prepaid post or by security mail in an envelope addressed to the company at its registered office or place of business last known to the person serving the notice or demand in which event the notice or demand shall be deemed to have been received on the second business day following the date upon which the envelope containing the same was posted;"
        • Updated clause (14.3)(b) "Any notice or document delivered at or posted to the registered address of a Beneficiary shall, notwithstanding that such Beneficiary be dead and whether or not The Trustee has notice of his death, be deemed to have been duly served and such service shall be deemed a sufficient service on the legal personal representative of the deceased unit holder Beneficiary and all persons (if any) registered as joint unit holders Beneficiaries with him in respect of The Trust the units."
        • Added clause (15) Governing Law and Jurisdiction
          The Trust shall be governed by, and this deed shall be construed in accordance with, the laws of <State Jurisdiction> . In relation to it and related non contractual matters each party submits to the non-exclusive jurisdiction of courts with jurisdiction there."
        • Added clause (16) Dispute Resolution
          a) In the event of any dispute arising out of or in connection with this deed, the Parties shall first attempt to resolve the dispute amicably through good faith negotiations.
          b) If a Board of Guardians is constituted in this deed, the dispute may be submitted before them for resolution in accordance with the terms of this deed.
          c) If the dispute is not resolved within thirty (30) days, the Parties agree to submit the dispute to mediation administered by the Australian Disputes Centre (ADC) before having recourse to litigation."
        • Updated the clause (17.1)(b) "80 years from the date of establishment of the Trust unless a State law allows otherwise."
        • Updated the clause (17.2) "Subject to any provision of this deed that limits or restricts distributions of capital of the Trust Fund, the trustee shall at the termination date:"
      • 06/08/2025 Deed of Succession Appointors and Leading Members & Deed of Succession Appointors - Added Variation Date Option for the Recitals (A).
      • 08/08/2025 Division 7A Loan Agreement - Within the Interview, updated the caption for the Commencement Interest.

        The commencement interest rate for the 2018-2019 income year it is 5.20%, for the 2019-2020 income year it is 5.20%, for the 2020-2021 income year it is 4.52%, for the 2021-2022 income year it is 4.52%, for the 2022-2023 income year it is 4.77%,for the 2023-2024 income year it is 8.27%, and for the 2024-2025 income year it is 8.77%.
      • 08/08/2025 TRIS Current Year Income Payment - Added Financial Year 2025/2026 in list of option.
      • 08/08/2025 Discretionary Trust - (non foreign persons) - Updated the wordings of clause (12)(a) - "alter, vary, or revoke any or all trust or provisions terms and conditions contained in this deed (but not so as to benefit the Settlor) and at no time during the life of this trust make an amendment that would result in a Beneficiary, Trustee or Appointor, current or future being a Foreign Person, and at no time during the life of this trust make an amendment that would result in <Excluded Beneficiary Name> being added as Beneficiary of the Trust; or"
      • 08/08/2025 Family Protection Trust - (non-foreign persons) - Following changes were made:
        • Updated the following wordings in General Letter of Advice - Understanding Non-Foreign Person Trust Deeds

          1. What is a Non-Foreign Person Deed?
          A Non-Foreign Person Deed is a specialised form of trust deed that explicitly restricts the inclusion of foreign persons as beneficiaries. This constraint is designed to ensure that the trust is not treated as a foreign trust in compliance with various legislations imposing additional duties and taxes on trusts with foreign beneficiaries, particularly in the context of property ownership.

          2. Who Qualifies as a Foreign Person?
          As detailed in the trust deed, a 'Foreign Person' encompasses a variety of statuses defined across several legislative acts, including the Duties Act and Land Tax Act of different states. Although exact terminology differs across states, this broad definition includes foreign individuals, trustees of foreign trusts, foreign corporations, and absentee persons. This ensures the trust deed remains adaptable to legislative changes that may affect the definition and treatment of foreign persons within the jurisdiction of the respective states.
        • Fixed Spacing in between clause (3) Why Are Foreign Persons Excluded? and clause (4) Consequences of Including Foreign Persons."
        • Updated the following section within the index page.
          6.) Categories of Income
          15.) Governing Law and Jurisdiction
          16.) Dispute Resolution
          Schedule 1"
        • Reorganised alphabetically the Definition and Interpretation section.
        • Moved the Definition of "The Act" and "The Family Protection Appointor" right after the definition of "Termination Date".
        • Removed the Definition of "‘Bloodline Relative’ is any relative who shares the same family DNA."
        • Under the clause of Foreign Person (a). Change the wordings into "Foreign Person (or equivalent term) as defined in:"
        • Under the clause of Foreign Person (f). Change the wordings into "any individual, entity or other body or class of individuals, entities or other bodies expressly and irrevocably added as a Foreign Person in accordance with this deed from time to time, and for the avoidance of doubt, this definition of Foreign Person may be expressly and irrevocably amended from time to time in accordance with this deed (for example, if and when additional duty and/or land tax surcharge regimes in other States or Territories are introduced in the future)."."
        • Added Definition of ‘Notional Sub-Fund’.
          ‘Notional Sub-Fund’ means a purely internal, book-entry compartment of The Trust Fund that: 
          a) is established by minute of The Trustee for administrative convenience only and created without any transfer of legal, equitable or beneficial title so that no new or separate settlement, trust fund or trust relationship arises and leaving The Trust as a single discretionary trust;  
          b) allows The Trustee to notionally allocate specified assets, liabilities, reserves, assessable income, deductions and expenses to it, with those items remaining part of the one Trust Fund and available to meet the liabilities of The Trust as a whole, may appoint a Sub-Fund Manager (with the prior written consent of The Family Protection Appointor) whose non-binding investment and distribution recommendations The Trustee must consider, may charge direct Sub-Fund expenses and apportion general expenses (including group-wide tax liabilities) on a fair and reasonable basis, and may sell, mortgage, lend or otherwise deal with Sub-Fund assets without regard to their notional status so that third parties may rely on The Trustee’s title free of any Sub-Fund notation; and  
          c) has no separate vesting day, may be collapsed or merged by The Trustee at any time by book entry, and is subject to an ATO and trust-splitting safeguard construing references to “allocation,” “segregation” or “control” so as not to effect a partition, resettlement or trust split likely to attract CGT event E1 or E2, stamp duty or a loss of accumulated tax or accounting balances ."
        • Changed the wordings of "Relatives" into "‘Relatives’ includes relative of an individual and means a parent, grandparent, brother, sister, cousin, uncle, aunt, nephew, niece, lineal descendant or adopted child of the individual or of his or her spouse ;".
        • Moved the definition of "The Settlor" right after the "The Trust-Fund".
        • Added Definition of ‘Tax Use Benefit’.
          ‘Tax Use Benefit’ means a compensatory amount payable between Notional Sub-Funds when The Trustee determines that one Sub-Fund (the “Benefited Sub-Fund”) has used, or will use, tax attributes (for example, tax losses, franking credits or foreign income tax offsets) that were generated or notionally allocated to another Sub-Fund (the “Contributing Sub-Fund”). It is computed by: 
          a) basing the amount on the actual reduction in The Trust’s consolidated tax payable attributable to the Benefited Sub-Fund’s use of those attributes; 
          b) applying a gross-up if needed so that the Contributing Sub-Fund is placed in the same post-tax position it would have held had it retained the attribute; and  
          c) if more than one Benefited Sub-Fund uses the attribute, apportioning pro-rata to the benefit received, it is recorded as an inter-Sub-Fund receivable/payable as at the year-end to which the tax benefit relates, with payment terms as The Trustee decides. 
          It is an internal re-allocation rather than a distribution of Income or capital for trust law or tax purposes; The Trustee may depart from the general formula if it considers another method more equitable—provided it acts for proper purposes, gives real and genuine consideration to all Beneficiaries and records reasons in the minutes—and no Tax Use Benefit is payable to the extent it would give rise to a resettlement or new trust estate or contravene The Trustee indemnity or limited recourse provisions of this deed."
        • Changed the wordings right after The Family Protection Appointors table into "The Family Protection Appointor has the powers and responsibilities as set out in clause 8.".
        • Removed the wordings "The Trust shall be governed by, and this deed shall be construed in accordance with, the laws of <State Jurisdiction>."
        • The following clauses of Beneficiaries (3.1)(e)(f) and (g) will appear when selected 'Yes' for the question "Is any of the Primary Beneficiaries a Company".
          e) Any entity that is a Related Body Corporate (as defined in the Corporations Act 2001 (Cth)) of The Family Protection Appointor;
          f) Any individual who, at any time before the Termination Date, is or has been a director or shareholder of The Family Protection Appointor, provided that such person is not a Foreign Person;
          g) Any other company, trust or entity that is controlled by, or under common control with, The Family Protection Appointor within the meaning of section 50AA of the Corporations Act 2001 (Cth), established before the Termination Date."
        • Updated the wordings of Additional Beneficiaries (c) into "A Former Beneficiaries  of The Trust  when a prior or former The Family Protection Appointor  was in position as The Family Protection Appointor  may be added as a Beneficiary with the consent of The Family Protection Appointor in writing.".
        • Updated the wordings of Deletion of Beneficiaries (a)(i) into "if by deed the Beneficiary  not being a Minor  unconditionally declares that they are no longer a Beneficiary  of The  Trust and serves a properly executed copy of such deed on The Trustee; or"
        • Updated the wordings of Deletion of Beneficiaries (a)(ii) into "where The Trustee with the consent of the Family Protection Appointor by resolution or deed declares that a Person  or a class of Persons is no longer to be included as a Beneficiary.".
        • Added the wordings of Deletion of Beneficiaries (a)(iii): "the deed or resolution referred to in sub paragraph (i) and (ii) above, if not expressed to be irrevocable shall be irrevocable.".
        • Updated the wordings of Deletion of Beneficiaries (c) into "A Person  who ceases to be a Beneficiary  shall not thereby be excluded from subsequently being re-appointed or becoming a Beneficiary  unless irrevocably excluded previously.".
        • Added the clause (4.6) "Subsequent exercise of power: A Trust declared or effective in respect of income paid, applied, or set aside for a beneficiary shall not be affected by the subsequent exercise of any power of revocation or amendment of this deed."
        • Added the clause (4.7) "Allocation to be irrevocable: Determinations or resolutions of The Trustee allocating income as hereinbefore in this clause provided shall be irrevocable and the income of The Trust Fund shall be dealt with as required by such determination or resolution."
        • Updated the clause of Distribution of Capital (b) on termination of The Trust, the capital available for distribution as shall not have been the subject of an effective determination of The Trustee pursuant to paragraph (a) of this sub-clause, shall be held for the Default Beneficiaries  named or described in sub-paragraphs (d)(i) and (ii) of clause 17.2  and if more than one, equally, and if there shall be no such persons , then for the Default Beneficiaries  described in sub-paragraph (d)(i) of clause 17.2(d).
        • Updated the clause (7.1)(a) into "during the lifetime of The Family Protection Appointor, The Family Protection Appointor  unless The Family Protection Appointor  resigns for any reason whatsoever, or the Family Protection Appointor  is incapacitated, or under bankruptcy;".
        • Updated the clause (7.1)(b) into "on and from the date of bankruptcy, resignation, incapacity or death of The Family Protection Appointor  such other person  or persons  including joint Family Protection Appointors, as the Family Protection Appointor  may nominate under the definition of The Family Protection Appointor in this deed or by a separate Deed of Succession, or by their Last Will and Testament;'.
        • Added clause (7.1)(c) "In the event there is an inconsistency in the nomination of Successor Family Protection Appointors as mentioned under the definition of The Family Protection Appointor in this deed or in a separate Deed of Succession, or in a Last Will and Testament – the nomination in the document that is last executed shall be valid.".
        • Updated the clause (7.2) "7.2In executing the Deed of Succession, The Family Protection Appointor may:".
        • Updated the clause (7.2)(c) "alter the succession order of the successor Family Protection Appointor, as delineated in the definition of The Family Protection Appointor in clause 1 of this settlement, if any.".
        • Updated the clause (7.7) "Upon the resignation, retirement or removal of a Trustee, The Trustee shall hand to the New Trustee all books, records, documents, and other material pertaining to the  Trust.".
        • Removed unnecessary spaces in the wordings of clause (8.2) Removal or Exclusion of a Beneficiary.
        • Added the wordings of clause (8.3) Joint Family Protection Appointor.
        • Added the wordings of clause (8.3)(a) "Where there are more than one Family Protection Appointors, they are to act jointly by way of majority.".
          Added the wordings of clause (8.3)(b) "Where the current Family Protection Appointor is a joint Family Protection Appointor, and one of them is incapacitated, resigns or is deceased, the surviving Family Protection Appointor is to remain as The Family Protection Appointor solely, unless a prior Deed of Succession, signed by the current Family Protection Appointors provides otherwise.".
        • Changed the wordings of clause (8.4) tittle from "Succession FPAs" into "No right to enforce appointment".
        • Updated the wordings of clause (8.4) "Successor Family Protection Appointor so removed or displaced from  the chain of Family Protection Appointors, under the provisions of this deed, have no rights or entitlements to enforce any claims over the Family Protection Appointor position.".
        • Changed the wordings of clause (8.5) tittle from "No Successor FPA" into "No Successor Family Protection Appointor".
        • Updated the wordings of clause (8.5)(a) "If the Family Protection Appointor has died or is incapacitated, the Legal Personal Representative of the Family Protections Appointor’s, with their consent, is to become the Family Protections Appointor, unless the Legal Personal Representative is in litigation or is to commence litigation against the current Trustee. If there is more than one Legal Personal Representative they may choose one or more to become joint Family Protections Appointors.".
        • Updated the wordings of clause (8.5)(b) "If the above does not apply, then The Trustee is to become The Family Protection Appointor  and if The Trustee is a company then the Directors of The Trustee are to be appointed as Family Protection Appointor or joint Family Protection Appointors , subject to their consents".
        • Updated the wordings of clause (8.5)(c) "If none of a), b) or c) applies then the last Beneficiary who is a lineal or bloodline descendant of the original Family Protection Appointor, or the last Beneficiary who The Trustee distributed to or are to become Family Protection Appointors.".
        • Updated the wordings of clause (9.1) "More than one person being a trustee. If more than one person  is a trustee, decisions shall be made by the majority of The Trustees except that if there is no majority, the  FPA  is to have a casting vote as if they were or are a trustee.".
        • Updated the clause tittle of (9.6) to "Exercise of Powers by Corporate Trustee".
        • Updated the clause (9.7) wordings "Release of Power: Unless a power or discretion which may be exercised by The Trustee is by the terms of this deed required to be irrevocable, The Trustee may release or revoke any power conferred upon it by this deed. Any other person  upon whom any power is conferred by this deed may release or revoke any power conferred upon them. Upon the exercise of any release or revocation pursuant to this paragraph, the power to release or revoke shall be absolutely and irrevocably determined.".
        • Updated the clause (10.2) wordings "The Trustee shall have the power to apply or invest any monies requiring or available to be invested under this deed in any investment of whatsoever kind or nature as The Trustee in its discretion shall think fit notwithstanding that any such investment is not by law authorised for the investment of Trust monies or that the investment does not produce income or that no dividend or interest is payable in respect thereof and whether or not the investment shall involve waste or be subject to liability with or without security and otherwise upon and subject to any terms or conditions as The Trustee shall in its absolute discretion think fit. In particular, without restricting the generality of the foregoing, The Trustee shall have the power to:".
        • Added clause (10.2)(a) "Apply or Invest: any monies requiring or liable to be invested under this deed either alone or in partnership or co-ownership with any Person or Persons;".
        • Updated clause (10.2)(f) "Option and rights: in the acquisition of options, entitlements or rights to any of the securities mentioned in paragraph (e) of this sub-clause".
          Updated clause (10.2)(l) "Commodity contracts: in the acquisition of foreign currencies, hedging contracts, commodity contracts and options or future contracts of any kind which are quoted on a recognised stock exchange;".
        • Updated the clause title of (10.3) to "Power to Vary Investments".
        • Updated the clause (11.1)(d) "Derivatives: to acquire, dispose of, exchange, hire, lease, let, mortgage or otherwise deal with any derivative which term is taken to include but not be limited to of any interest rate swaps, currency swap, currency option, interest rate option, swap option, smart forward, money market transaction, foreign exchange transaction, margin foreign exchange transaction, futures transaction, forward rate agreement, forward rate bill transaction, synthetic forward exchange transaction, deposit transaction, currency transaction, interest rate transaction, bond option, commodities option, credit derivative, or an equity derivative;".
        • Updated the clause (11.1)(g) "Employment: to engage or employ persons  including a person  having an interest in The Trustee or who holds an office of The Trustee, or obtaining other assistance as The Trustee may deem requisite, to provide staff, amenities and to vary and terminate any contract of employment;".
        • Fixed the clause (11.1)(l) unnecessary spaces.
        • Updated the wordings of clause (11.1)(oo) "Legal proceedings: to institute, join in and defend proceedings at law or by way of mediation or arbitration and to proceed to the end and determination of, or to compromise the same and to compromise and settle any such dispute or proceedings for such consideration and upon the terms and conditions as The Trustee may decide;".
        • Added the clause (11.1)(vv) "Tax elections: The Trustee may in writing make, vary or revoke any election, option, declaration, choice or notice with any taxation, revenue, stamp-duty or other fiscal authority (including, without limitation, a Family Trust Election or Interposed Entity Election under Schedule 2F of the Income Tax Assessment Act 1936 (Cth)) and execute any instrument or do any act ancillary or conducive to giving effect to that election.".
        • Added the clause (11.1)(ww) "Tax Use Benefit Equalisation: The Trustee may in writing determine, calculate, allocate, record, vary or reverse any Tax  Use  Benefit between Notional Sub-Funds, apply any gross-up or apportionment it considers appropriate, and execute any instrument or do any act ancillary or conducive to giving effect to those adjustments (including creating or offsetting inter-Sub-Fund receivables or payables and setting payment terms), provided The Trustee acts for proper purposes, gives real and genuine consideration to the interests of all Beneficiaries, and records its reasons in the minutes."
        • Updated the wordings of clause (12)(a) "alter, vary or revoke any trust or provision within this deed (but not so as to benefit The  Settlor) and at no time during the life of this trust make an amendment that would result in a Beneficiary, The Trustee  or The Family Protection Appointor , current or future being a Foreign Person, and at no time during the life of this Trust make an amendment that would result in Earey Smith being added as Beneficiary of The  Trust; or".
        • Updated the wordings of clause (13.2) "The Trustee from time to time shall at the request of The Family Protection Appointor provide a copy or in the case of computer recording, a soft copy, of such financial statements certified as provided in sub-clause (1) of this clause and shall also give such information and explanations as The Family Protection Appointor  may require.".
        • Fixed the clause (13.3) unnecessary spaces.
        • Updated the wordings of clause (14.2)(iii) "delivered or posted by ordinary prepaid post or by security mail in an envelope addressed to the company at its registered office or place of business last known to the Person  serving the notice or demand in which event the notice or demand shall be deemed to have been received on the second business day following the date upon which the envelope containing the same was posted;".
        • Updated the wordings of clause (14.3)(b) "Any notice or document delivered at or posted to the registered address of a Beneficiary shall, notwithstanding that such Beneficiary be dead and whether or not The Trustee has notice of his death, be deemed to have been duly served and such service shall be deemed a sufficient service on the Legal  Personal  Representative  of the deceased Beneficiary and all Persons  (if any) registered as joint Beneficiaries with him in respect of The Trust.".
        • Added clause (15) "Governing Law and Jurisdiction: The Trust shall be governed by, and this deed shall be construed in accordance with, the laws of New South Wales. In relation to it and related non contractual matters each party submits to the non-exclusive jurisdiction of courts with jurisdiction there.".
        • Added clause (16) "Dispute Resolution".
        • Added clause (16)(a) "In the event of any dispute arising out of or in connection with this deed, the Parties shall first attempt to resolve the dispute amicably through good faith negotiations.".
        • Added clause (16)(b) "If a Board of Guardians is constituted in this deed, the dispute may be submitted before them for resolution in accordance with the terms of this deed."
        • Added clause (16)(c) "If the dispute is not resolved within thirty (30) days, the Parties agree to submit the dispute to mediation administered by the Australian Disputes Centre (ADC) before having recourse to litigation."
        • Updated the clause tittle of (17) to "Winding-up The Trust".
        • Updated the clause (17.1) (b) "80 years from the date of establishment of the  Trust unless a State law allows otherwise".
        • Updated the clause (17.2) "Subject to any provision of this deed that limits or restricts distributions of capital of the  Trust Fund, The Trustee shall at the termination  date :".
        • Within the Schedule 1, fixed the wordings of "The Settlor" "The Family Protection Appointor", "The Successor Family Appointor", "The Second Successor Family Appointor", "The Third Successor Family Appointor","The Fourth Successor Family Appointor","The Fifth Successor Family Appointor" and "The Sixth Successor Family Appointor".
        • Fixed all formatting mentions of "FPA" into "Family Protection Appointor" across the document template.
        • Fixed all formatting mentions of "the Trust" into "The Trust" across the document template.
        • Fixed all formatting mentions of "the trustee" into "The Trustee" across the document template.
        • Fixed all formatting mentions of "beneficiaries" into "Beneficiaries" across the document template.
        • Fixed all formatting mentions of "default beneficiaries" in to "Default Beneficiaries" across the document template.
        • Fixed all formatting mentions of "foreign person" into "Foreign Person" across the document template.
        • Fixed all formatting mentions of "person" into "Person" across the document template.
        • Fixed all formatting mentions of "child" into "Child" across the document template.
        • Fixed all formatting mentions of "grandchildren" into "Grandchildren" across the document template.
        • Fixed all formatting mentions of "great-grandchildren" into "Great-Grandchildren" across the document template.
        • Fixed all formatting mentions of "children" into "Children" across the document template.
        • Fixed all formatting mentions of "income" into "Income" across the document template.
        • Fixed all formatting mentions of "spouse" into "Spouse" across the document template.
        • Fixed all formatting mentions of "termination date" into "Termination Date" across the document template.
        • Fixed all formatting mentions of "financial year" into "Financial year" across the document template.
        • Fixed all formatting mentions of "category" into "Category" across the document template.
        • Fixed all formatting mentions of "categories" into "Categories" across the document template.
        • Fixed all formatting mentions of "capital" into "Capital" across the document template.
        • Fixed all formatting mentions of "tax" into "Tax" across the document template.
      • 08/08/2025 Change of Trustee for Discretionary Trust - Following changes were made:
        • In the Recitals, changed the wordings of clause (B.) and (C.) into:

          B. The Appointor seeks to remove the Current Trustee as the Trustee of the Trust pursuant to Clause of the Deed.

          C. The Appointor seeks to appoint the New Trustee as the Trustee of the Trust pursuant to Clause of the Deed.
        • In the Provisions, changed the wordings of clause (1.) into: "Recital Inclusion as Operative Provisions: The above Recitals are included as part of the operative provisions of this deed."
        • In the Provisions, updated the clause (2) to (5) wordings Tittle.

          2. Removal of Current Trustee: The Appointor hereby removes the Current Trustee pursuant to Clause 45 of the Deed. 
          3. Appointment of New Trustee: The Appointor hereby appoints the New Trustee as Trustee of the Trust pursuant to Clause 11 of the Deed. 
          4. Binding Deed: The New Trustee by its execution of this deed accepts the appointment as Trustee of the Trust and to be bound by the Deed.
          5. No Resettlement at Law: The change in Trustee effected by this Deed does not result in a resettlement of the Trust.
      • 08/08/2025 Upgrade of Discretionary Trust to LM Non-Foreign Person DT - Changed the of clause (9.5)(b)
        "A beneficiary is under no obligation whatever to personally indemnify the Trustee or a creditor of the Trust or any sub-trust established under this deed in relation to any liability, loss, damage or expense either incurred or suffered in connection with the Trust. The Trustee is unable to exercise against a beneficiary any right by way of subrogation or indemnity"
      • 11/08/2025 LYD Standard Company - Added feature check prompt button before assembling the Document. This prevents to accidentally clicking the Assemble button.
      • 14/08/2025 LYD Standard Company - Following changes were made:
        • Updated the Index page "Schedule A: Members Consent" to "Schedule A: Shareholders Consent"
        • Updated the section of "Schedule A: Members Consent" to "Schedule A: Shareholders Consent"
        • Updated the wordings of Schedule A: from "The Members at registration of the Company agree to this Constitution and consent to being members of the Company." into "I, being the person(s) specified in the application, dated <Constitution Date>, for the registration of <Company Name> <Legal Element> <ACN>, pursuant to Section 117 of Corporations Act 2001, as having given my consent to become a Shareholder, HEREBY AGREE to the terms of this Constitution as set out above."
      • 20/08/2025 Change of Trustee for SMSF - Removed email address and phone number fields for the Current Trustee(s), New Trustee(s), and Member(s) since this fields are not part of the output document and updated email caption of LY Legal within the interview and output document (info@lylegal.com.au).
      • 20/08/2025 Following changes were made to the following documents:  
        - Updated caption for email address and phone number fields, added caption for email address and phone number fields samples and added ruling over the phone number - this should not exceed 10 digits.
        Email: (e.g., name@example.com)
        Phone Number: Please enter numbers only, starting with 0, with no special characters (e.g., +)
        - Updated email caption of LY Legal within the interview and output document (info@lylegal.com.au). 
        • Deed of Vesting (SMSF)
        • Leading Member SMSF Establishment
        • Leading Member SMSF Deed of Variation
        • Leading Member SMSF Establishment with EPOA
        • Leading Member SMSF to Leading Member SMSF Variation
        • Member Appointment - Leading Member SMSF
        • Member Appointment - Standard SMSF
        • QROPs SMSF Deed of Variation
        • QROPs SMSF Establishment
        • SMSF Deed of Variation
        • SMSF Establishment
      • 21/08/2025 - Added Other Information Tab to incorporate both the Victorian Landholding Trust and the Pharmacy Clause option for the following documents:
        • Crypto Discretionary Trust Deed
        • Family Protection Trust - (individual & corporate)
        • Family Protection Trust - (non-foreign persons)
        • Leading Member Discretionary Trust - (individual & corporate)
        • Leading Member Discretionary Trust – (non-foreign persons)
      • 27/08/2025 Following changes were made across the following  document template:
        - Fixed all formatting mentions of "foreign" into "Foreign". 
        - Fixed all formatting mentions of "foreign trust" into "Foreign Trust".
        - Fixed all formatting mentions of "foreign purchaser" into "Foreign Purchaser". 
        - Fixed all formatting mentions of "foreign corporation" into "Foreign Corporation". 
        - Fixed all formatting mentions of "foreign natural person" into "Foreign Natural Person". 
        • Discretionary Trust - (non foreign persons)
        • Family Protection Trust - (non-foreign persons)
        • Leading Member Discretionary Trust – (non-foreign persons)
        • Upgrade of Discretionary Trust to a Family Protection Trust (Non-Foreign Person)
        • Upgrade of Discretionary Trust to a Non-Foreign Person Discretionary Trust
        • Upgrade of Discretionary Trust to LM Non-Foreign Person DT
      • 29/08/2025 The Moat and Castle & The Protector - Fixed Deed of Gift and Call Option Deed formatting issue.