February 2024 Updates

DOCUMENT RELEASE

• 15/02/2024 Notification to Trustee of Mental Incapacity of Member

DOCUMENT UPDATES

• 05/02/2024 - LYD Standard Company
  - Fixed uncapitalize clauses and sub-clauses in the rules of the document.
  - Added text "Members" in the header of Schedule A: Members Consent page.
  - Added Schedule B: Consent to Appointment as Directors page
  - Added text ""Directors"" in the header of Schedule A: Directors Consent page.
  - Moved the constitution Date to Directors Consent page.
   - Added Schedule C: Appointment of Public Officer page.
  - Moved the constitution Date to Appointment of Public Officer page.
• 05/02/2024 - Upgrade to LightYear Docs Standard Company
  - Fixed uncapitalize clauses and sub-clauses in the rules of the document.
  - Replaced text "LightYear Docs" on the header to "Abbott and Mourly."
  - Rule (4.9,4.10,4.11 H, I and J) clause (a) added text "to" right before the "No right". 
  - Bolden the text "Registered" in the "Registered Address" definition.
• 06/02/2024 - Enduring Power of Attorney
  - Same changes with the LYD and EPOA (Updated the Enduring Power of Attorney (WA) with or without Spouse)
•  06/02/2024 - LYD Will and EPOA
  - Updated the Enduring Power Of Attorney (WA) with or without Spouse.
  - Changed the wordings for three scenarios in the Initial and replacement. Appointed Attorney in the Enduring Power of Attorney
  - If Entity are more than one. Entity Name(Individual or Company) Address Information (Decision should act(Jointly/Severally,)) added text "to be my Attorney(s)."
  - If Entity is only one. Entity Name(Individual or Company) Address Information (Decision should act (Jointly/Severally)) added text "to be Sole Attorney."
  - If Selected Decision Act is "Majority" added text "by" before the decision output selected.
  - Changed text Authority If "Impaired" is selected "I DECLARE that the power of attorney is an Enduring Power of Attorney and will be in force ONLY during any period when a declaration by the State Administrative Tribunal that I do not have legal capacity is in force under Section 106 of the Guardianship and Administration Act 1990."
  - Replaced Clause (a) for the Replacing Attorneys with two scenarios.
  - If "Immediately" a) that the power of attorney is an enduring power of attorney and will continue in force notwithstanding the subsequent legal incapacity of the donor.
  - If "Impaired" a) that the power of attorney is an enduring power of attorney and will be in force ONLY during any period when a declaration by the State Administrative Tribunal that the donor does not have legal capacity is in force under Section 106 of the Guardianship and Administration Act 1990."
• 06/02/2024 - Member Appointment - Standard SMSF
  - Removed text "The leading members of the fund has power to terminate the Member's membership at any time in terms and conditions.
• 07/02/2024 - Successor Director Solutions documents
  - Fixed uncapitalize clauses and sub-clauses in the rules of the document.
  - Rule (4.9,4.10,4.11 H, I and J) clause (a) added text "to"" right before the "No right."
• 07/02/2024 - Crypto Discretionary Trust Deed
  - In clause 7.1(c) change the last part to "or is unwilling to act as an Appointor of this Trust, The Trustee for the time being"
• 07/02/2024 - Discretionary Trust (Individual & Corporate)
  - In clause 7.1(c) change the last part to "or is unwilling to act as an Appointor of this Trust, The Trustee for the time being"
• 07/02/2024 - Discretionary Trust (Non-foreign persons)
  - In clause 4.3(e) change 'The Trustee may affect' to 'The Trustee may effect', in clause 5.4 change affected to effected and in clause 7.1(c) change the last part to "or is unwilling to act as an Appointor of this Trust, The Trustee for the time being"
• 07/02/2024 - Family Protection Trust (Individual & Corporate)
  - In clause 4.3(e) change 'The Trustee may affect' to 'The Trustee may effect' and in clause 5.4 change affected to effected.
• 07/02/2024 - Family Protection Trust (Non-foreign persons)
  - In clause 4.3(e) change 'The Trustee may affect' to 'The Trustee may effect'
• 07/02/2024 - Fixed Unit Trust (Individual & Corporate)
  - Fixed Letter of Advice overlapping footer issue
• 07/02/2024 - Leading Member Discretionary Trust (Individual & Corporate)
  - In clause 4.3(e) change 'The Trustee may affect' to 'The Trustee may effect' and in clause 5.4 change affected to effected.
• 07/02/2024 - Leading Member Discretionary Trust (Non-foreign persons)
  - In clause 4.3(e) change 'The Trustee may affect' to 'The Trustee may effect' and in clause 5.4 change affected to effected.
• 07/02/2024 - Upgrade of Discretionary Trust to a Family Protection Trust
  - In clause 4.3(e) change 'The Trustee may affect' to 'The Trustee may effect'
• 07/02/2024 - Upgrade of Discretionary Trust to a Family Protection Trust (Non-foreign person)
  - In clause 4.3(e) change 'The Trustee may affect' to 'The Trustee may effect'
• 07/02/2024 - Upgrade of Discretionary Trust to a LightYear Docs Strategic Discretionary Trust
  - In clause 7.1(c) change the last part to "or is unwilling to act as an Appointor of this Trust, The Trustee for the time being"
• 07/02/2024 - Upgrade of Discretionary Trust to a Non-Foreign Person Discretionary Trust
  - In clause 7.1(c) change the last part to "or is unwilling to act as an Appointor of this Trust, The Trustee for the time being"
• 07/02/2024 - Upgrade of Discretionary Trust to Leading Member DT
  - In clause 4.3(e) change 'The Trustee may affect' to 'The Trustee may effect'
• 07/02/2024 - Upgrade of Discretionary Trust to LM Non-Foreign Person DT
  - In clause 4.3(e) change 'The Trustee may affect' to 'The Trustee may effect' and in clause 5.4 change affected to effected.
• 08/02/2024 - Family Protection Trustee Company
  - Replaced the Rule Clause 15.1 to "If the Family Protection Appointor dies, unless a joint Family Protection Appointor shareholder remains, the Family Protection Appointor’s shares is to be automatically transferred to the successor Family Protection Appointor of the Trust and should there be no immediate successor Family Protection Appointor, that member the Trustee of the Trust or under such powers of the Trust’s trust deed so chooses as the new Family Protection Appointor of the Trust."
  - Replaced the Rule Clause 15.2 to "The Company must register the change in shareholding from the deceased Family Protection Appointor to the successor Family Protection Appointor with the Australian Securities and Investments Commission within the stipulated timeframe."
  - Removed Clause 15.3.
  - Replaced the Rule Clause 17.1 to "If the Family Protection Appointor becomes mentally incapacitated and receives notification from a legally qualified medical expert to that effect, unless a joint Family Protection Appointor shareholder remains, the Family Protection Appointor’s shares are to be automatically transferred to the successor Family Protection Appointor of the Trust and should there be no immediate successor Family Protection Appointor, that member the Trustee of the Trust or under such powers of the Trust’s trust deed so chooses as the new Family Protection Appointor of the Trust."
  - Replaced the Rule Clause 17.2 to "The Company must register the change in shareholding from the Family Protection Appointor to the successor Family Protection Appointor with the Australian Securities and Investments Commission within the stipulated timeframe."
  - Removed Clause 17.3."
• 08/02/2024 - Leading Member Discretionary Trustee Company
  - Replaced the Rule Clause 15.1 to "If the Leading Member Appointor dies, unless a joint Leading Member Appointor shareholder remains, the Leading Member Appointor’s shares is to be automatically transferred to the successor Leading Member Appointor of the Trust and should there be no immediate successor Leading Member Appointor, that member the Trustee of the Trust or under such powers of the Trust’s trust deed so chooses as the new Leading Member Appointor of the Trust."
  - Replaced the Rule Clause 15.2 to "The Company must register the change in shareholding from the deceased Leading Member Appointor to the successor Leading Member Appointor with the Australian Securities and Investments Commission within the stipulated timeframe.
  - Removed Clause 15.3.
  - Replace the Rule Clause 17.1 to "If the Leading Member Appointor becomes mentally incapacitated and receives notification from a legally qualified medical expert to that effect, unless a joint Leading Member Appointor shareholder remains, the Leading Member Appointor’s shares are to be automatically transferred to the successor Leading Member Appointor of the Trust and should there be no immediate successor Leading Member Appointor, that member the Trustee of the Trust or under such powers of the Trust’s trust deed so chooses as the new Leading Member Appointor of the Trust."
  - Replaced the Rule Clause 17.2 "The Company must register the change in shareholding from the Leading Member Appointor to the successor Leading Member Appointor with the Australian Securities and Investments Commission within the stipulated timeframe."
  - Removed Clause 15.3."
• 08/02/2024 - Company Constitution Variation to FPT Company
  - Replaced the Rule Clause 15.1 to "If the Family Protection Appointor dies, unless a joint Family Protection Appointor shareholder remains, the Family Protection Appointor’s shares is to be automatically transferred to the successor Family Protection Appointor of the Trust and should there be no immediate successor Family Protection Appointor, that member the Trustee of the Trust or under such powers of the Trust’s trust deed so chooses as the new Family Protection Appointor of the Trust."
  - Replaced the Rule Clause 15.2 to "The Company must register the change in shareholding from the deceased Family Protection Appointor to the successor Family Protection Appointor with the Australian Securities and Investments Commission within the stipulated timeframe."
  - Removed Clause 15.3.
  - Replaced the Rule Clause 17.1 to "If the Family Protection Appointor becomes mentally incapacitated and receives notification from a legally qualified medical expert to that effect, unless a joint Family Protection Appointor shareholder remains, the Family Protection Appointor’s shares are to be automatically transferred to the successor Family Protection Appointor of the Trust and should there be no immediate successor Family Protection Appointor, that member the Trustee of the Trust or under such powers of the Trust’s trust deed so chooses as the new Family Protection Appointor of the Trust."
  - Replaced the Rule Clause 17.2 to "The Company must register the change in shareholding from the Family Protection Appointor to the successor Family Protection Appointor with the Australian Securities and Investments Commission within the stipulated timeframe."
  - Removed Clause 17.3.
• 08/02/2024 - Company Constitution Variation to Leading Member Discretionary Trust
  - Replaced the Rule Clause 15.1 to "If the Leading Member Appointor dies, unless a joint Leading Member Appointor shareholder remains, the Leading Member Appointor’s shares is to be automatically transferred to the successor Leading Member Appointor of the Trust and should there be no immediate successor Leading Member Appointor, that member the Trustee of the Trust or under such powers of the Trust’s trust deed so chooses as the new Leading Member Appointor of the Trust."
  - Replaced the Rule Clause 15.2 to "The Company must register the change in shareholding from the deceased Leading Member Appointor to the successor Leading Member Appointor with the Australian Securities and Investments Commission within the stipulated timeframe.
  - Removed Clause 15.3.
  - Replaced the Rule Clause 17.1 to "If the Leading Member Appointor becomes mentally incapacitated and receives notification from a legally qualified medical expert to that effect, unless a joint Leading Member Appointor shareholder remains, the Leading Member Appointor’s shares are to be automatically transferred to the successor Leading Member Appointor of the Trust and should there be no immediate successor Leading Member Appointor, that member the Trustee of the Trust or under such powers of the Trust’s trust deed so chooses as the new Leading Member Appointor of the Trust."
  - Replaced the Rule Clause 17.2 ""The Company must register the change in shareholding from the Leading Member Appointor to the successor Leading Member Appointor with the Australian Securities and Investments Commission within the stipulated timeframe.""
  - Removed Clause 15.3.
• 08/02/2024 - Company Constitution Variation to Leading Member Discretionary Trust
  - Fixed Interview command error
• 08/02/2024 - Crypto Discretionary Trust Deed
  - Added new definition for (Spouse) under Deed Witnesses: "Spouse" is the Person who is legally married to the Primary Beneficiary including a de-facto recognised under common law, Family Law or applicable State laws to have a genuine domestic relationship with the Principal Beneficiary. It also includes any Person the Trustee deems to be a spouse for the purposes of this deed.
  - In Clause 2.1 under the Establishment of the Trust: From "which The Trustee agrees to hold upon The Trusts and subject to the terms of this deed." to "which The Trustee agrees to hold on trust and subject to the terms of this deed."
• 08/02/2024 - Crypto Discretionary Trust Deed
  - Fixed Interview command error
• 08/02/2024 - Discretionary Trust - (individual & corporate)
  - Added new definition for (Spouse) under Deed Witnesses: "Spouse" is the Person who is legally married to the Primary Beneficiary including a de-facto recognised under common law, Family Law or applicable State laws to have a genuine domestic relationship with the Principal Beneficiary. It also includes any Person the Trustee deems to be a spouse for the purposes of this deed.
  In Clause 2.1 under the Establishment of the Trust: From "which The Trustee agrees to hold upon The Trusts and subject to the terms of this deed." to "which The Trustee agrees to hold on trust and subject to the terms of this deed."
  - Fixed Interview command error
• 08/02/2024 - Discretionary Trust - (Non-foreign persons)
  - Added new definition for (Spouse) under Deed Witnesses: "Spouse" is the Person who is legally married to the Primary Beneficiary including a de-facto recognised under common law, Family Law or applicable State laws to have a genuine domestic relationship with the Principal Beneficiary. It also includes any Person the Trustee deems to be a spouse for the purposes of this deed.
  - In Clause 2.1 under the Establishment of the Trust: From "which The Trustee agrees to hold upon The Trusts and subject to the terms of this deed." to "which The Trustee agrees to hold on trust and subject to the terms of this deed."
• 08/02/2024 - Trust Documents
  - Fixed Interview command error.
• 08/02/2024 - Upgrade of Discretionary Trust to a LightYear Docs Strategic Discretionary Trust
  - Added new definition for (Spouse) under Deed Witnesses: "Spouse" is the Person who is legally married to the Primary Beneficiary including a de-facto recognised under common law, Family Law or applicable State laws to have a genuine domestic relationship with the Principal Beneficiary. It also includes any Person the Trustee deems to be a spouse for the purposes of this deed.
• 08/02/2024 - Upgrade of Discretionary Trust to a Non-Foreign Person Discretionary Trust
  - Added new definition for (Spouse) under Deed Witnesses: "Spouse" is the Person who is legally married to the Primary Beneficiary including a de-facto recognised under common law, Family Law or applicable State laws to have a genuine domestic relationship with the Principal Beneficiary. It also includes any Person the Trustee deems to be a spouse for the purposes of this deed.
• 15/02/2024 - Company Establishment Documents
  - Removed date automation under associates signature and name
• 16/02/2024 - Enduring Power of Attorney
  - Updated Enduring Power of Attorney (WA) with and without Spouse
  - In the interview Replace the caption "Immediately" to "A"
  - In the interview Replace the caption "Impaired" to "B"
  - For the 2nd, 3rd and 4th Substitute Attorneys Clauses. If the individual entity/party is only one. The text "sole" will output before the text "Substitute Attorney" under the ENDURING POWER OF ATTORNEY. Added Decision selected at the end of the paragraph of each clauses.
• 16/02/2024 - The LYD Will and EPOA
  - Updated Enduring Power of Attorney (WA) with and without Spouse
  - In the interview Replace the caption "Immediately" to "A"
  - In the interview Replace the caption "Impaired" to "B"
  - For the 2nd, 3rd and 4th Substitute Attorneys Clauses. If the individual entity/party is only one. the text ""sole"" will output before the text ""Substitute Attorney"" under the ENDURING POWER OF ATTORNEY. Added Decision selected at the end of the paragraph of each clauses.
• 19/02/2024 - Leading Member Discretionary Trust (Individual & Corporate)
  - Remove duplicate cousin in definition of Relative.
• 19/02/2024 - Company Establishment Documents
  - Added new Boulevard East, Boulevard South and Boulevard West in Street Type.
• 20/02/2024 - The Moat and Castle
  - Fixed Document Age Computation Loading Error and Optimization.
• 20/02/2024 - SMSF Income Streams Documents
  - Fixed Document Age Computation Loading Error and Optimization.
• 20/02/2024 - Upgrade of Discretionary Trust to a LightYear Docs Strategic Discretionary Trust
  - Replaced the text "LightYear Docs" in the template header to "Discretionary Trust Upgrade to Strategic Discretionary Trust
• 22/02/2024 - Company Upgrades Documents
  - Changed ‘Abbott and Mourly Lawyers’ or ‘Abbott & Mourly’ to ‘LightYear Docs’.
• 22/02/2024 - The Moat and Castle
  - Changed ‘Abbott and Mourly Lawyers’ or ‘Abbott & Mourly’ to ‘LightYear Docs’.
• 22/02/2024 - Corporate Trustee & Deed Upgrade to LightYear Docs
  - Changed ‘Abbott and Mourly Lawyers’ or ‘Abbott & Mourly’ to ‘LightYear Docs’.
• 22/02/2024 - Leading Member Discretionary Trust Upgrade with Company Constitution
  - Changed ‘Abbott and Mourly Lawyers’ or ‘Abbott & Mourly’ to ‘LightYear Docs’.
• 22/02/2024 - Leading Member Kit - Upgrade of SMSF Deed and Corporate Trustee to Leading Member
  - Changed ‘Abbott and Mourly Lawyers’ or ‘Abbott & Mourly’ to ‘LightYear Docs’.
• 22/02/2024 - The Successor Director Solution - Multi Company plus upgrade Constitution
  - Changed ‘Abbott and Mourly Lawyers’ or ‘Abbott & Mourly’ to ‘LightYear Docs’.
• 23/02/2024 - The Enforcer
  - Updated the Letter of Advice
• 26/02/2024 - Discretionary Trust - (Non-foreign persons)
  - Made additions to the definition of an Appointor and to add new clause 7.2
• 26/02/2024 - Upgrade of Discretionary Trust to a Non-Foreign Person Discretionary Trust
  - Made additions to the definition of an Appointor and to add new clause 7.2
• 29/02/2024 - Enduring Power of Attorney
  - Fixed formatting issue in EPOA QLD (Short form)
• 29/02/2024 - The LYD Will and EPOA 
   - In the wills signature changed Witness Name to Witness 1 Name and Witness 2 Name and Witness Signature to Witness 1 Signature and Witness 2 Signature.
  - Fixed formatting issue in EPOA QLD (Short form)
• 29/02/2024 - The LYD Will
   - In the wills signature changed Witness Name to Witness 1 Name and Witness 2 Name and Witness Signature to Witness 1 Signature and Witness 2 Signature
• 29/02/2024 - The Moat and Castle
   - In the wills signature changed Witness Name to Witness 1 Name and Witness 2 Name and Witness Signature to Witness 1 Signature and Witness 2 Signature. Fix formatting issue in EPOA QLD (Short form)