February 2025 Updates

DOCUMENT UPDATES

• 05/02/2025 Changes to Discretionary Trust Positions and Name - Made the following changes:
  • Added Letter of Advice for Change of Trust Positions.
  • Fixed both individual name and company name and their address that will appear in the letter of advice.
  • Fixed formatting issue for the Taxation and Duty Consideration section.
    
• 13/02/2025 NDA and Confidentiality Agreement - Under the Representative Acknowledgments, changed the sentence "For the purpose of this Non Disclosure Agreement, the following terms are defined as follows:" to "By entering into this Non-Disclosure Agreement, the Parties acknowledge and agree to the following terms:".
• 13/02/2025 Leading Member SMSF Deed of Variation, QROPs SMSF Deed of Variation, & SMSF Deed of Variation - Made the following changes:
  
  • Under the Annexure A, changed the sentence "The Trust Deed and Replacement Governing Rules of (Trust Name)" to "Replacement Governing Rule of (Trust Name)".
  • Under the recitals, changed the wordings ('the Deed') into ('the Governing Rules').
  • Under the Rule 2.10(e) and Rule 2.10(e), fixed the sub-clauses numbering format.
• 14/02/2025 Company Constitution Variation to LightYear Docs SMSF Special Purpose Company - Corrected wrong wording of legal liability to legal disability under Rule 2.1 Definitions and Interpretations of SMSF Special Purpose Company.
• 17/02/2025 SMSF Investment Strategy - Fund - Made the following changes:
  
  • For each Strategy Allocation, for the "When Would you like to have a benchmark for the allocation?", added option for "No" then the user can input domestic and international asset with a guided caption for each section. (Only pending caption for the customer allocation).
  • In Interview for Cash Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic. Cash Invested via bank accounts, bank bills and other similar securities. Provides income via interest. May be suitable for short-term needs."
    
    Added caption for "Please enter the allocation for the asset class International. Cash Invested via bank accounts, bank bills and other similar securities. Provides income via interest. May be suitable for short-term needs."
  • In Interview: Fixed Interest Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic Fixed Interest. Can provide a steady and reliable income stream with potential for capital growth and usually offers a higher interest rate, or yield, than cash. Includes Australian government bonds, Australian company bonds plus Australian special infrastructure bonds."
    
    Added caption for "Please enter the allocation for the asset class International Fixed Interest. Can provide a steady and reliable income stream with potential for capital growth and usually offers a higher interest rate, or yield, than cash. Includes Australian government bonds, Australian company bonds plus Australian special infrastructure bonds."
  • In Interview: Equities Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic Equities. Potential for capital growth, and may offer income through the payment of dividends with imputation credits. The Trustee may choose to invest in Australian companies either directly or using managed funds or listed companies."
    
    Added caption for "Please enter the allocation for the asset class International Equities. Potential for capital growth, and may offer income through the payment of dividends with imputation credits. The Trustee may choose to invest in Australian companies either directly or using managed funds or listed companies."
  • In Interview: Property Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic Property. Provides the benefits of diversification through access to Australian properties in retail, office, industrial, tourism and infrastructure sectors. You can invest in Australian property directly or via managed funds or syndicates."
    
    Added caption for "Please enter the allocation for the asset class International Property. Provides the benefits of diversification through access to Australian properties in retail, office, industrial, tourism and infrastructure sectors. You can invest in Australian property directly or via managed funds or syndicates."
  • In Interview: Alternative Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic Alternative. An investment in an asset that does not fall within the traditional asset classes noted above. They include hedge funds, private equity, art and antiques, futures, derivatives, commodities, credit, equity crowdfunding, etc."
    
    Added caption for "Please enter the allocation for the asset class International Alternative. An investment in an asset that does not fall within the traditional asset classes noted above. They include hedge funds, private equity, art and antiques, futures, derivatives, commodities, credit, equity crowdfunding, etc."
  • In Interview: Cryptocurrency Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic Crypto. Invested via cryptocurrency exchanges or other similar applications or platforms. Highly volatile and risky due to limited regulation. Low diversification."
    
    Added caption for "Please enter the allocation for the asset class International Crypto. Invested via cryptocurrency exchanges or other similar applications or platforms. Highly volatile and risky due to limited regulation. Low diversification."
  • In Interview: Borrowing Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic Borrowing. The Trustee may elect to acquire investments such as property or shares using a limited recourse borrowing arrangement or self funding instalment warrants."
    
    Added caption for "Please enter the allocation for the asset class International Borrowing. The Trustee may elect to acquire investments such as property or shares using a limited recourse borrowing arrangement or self funding instalment warrants."
• 17/02/2025 Pension Commutation - Replace the sentence "back to accumulation phase within the (Fund Name)" to "and make a lump sum payment to the Member" under the Trustee Meeting: Within the sentence or Request to Commute an Account Based Pension. 
• 19/02/2025 All documents - Fixed Letter of advice's LY Legal Logo, Tony's Signature and Updated Email Address.
• 19/02/2025 Crypto Discretionary Trust Deed - Changed the wordings under the Recital no.4 "which states: The purpose of the Trust is for the Trustee to invest, trade, barter and manage Crypto and Digital Assets" to "The purpose of this Trust is for the Trustee to invest in, trade, barter, and manage Crypto and Digital Assets, exercising all investment powers outlined in Subsection 9.2 of this deed."
• 17/02/2025 Member Directed Investment Strategy - Made the following changes:
  
  • For each Strategy Allocation, for the "When Would you like to have a benchmark for the allocation?", added option for "No" then the user can input domestic and international asset with a guided caption for each section. (Only pending caption for the customer allocation).
  • In Interview for Cash Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic. Cash Invested via bank accounts, bank bills and other similar securities. Provides income via interest. May be suitable for short-term needs."
    
    Added caption for "Please enter the allocation for the asset class International. Cash Invested via bank accounts, bank bills and other similar securities. Provides income via interest. May be suitable for short-term needs."
  • In Interview: Fixed Interest Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic Fixed Interest. Can provide a steady and reliable income stream with potential for capital growth and usually offers a higher interest rate, or yield, than cash. Includes Australian government bonds, Australian company bonds plus Australian special infrastructure bonds."
    
    Added caption for "Please enter the allocation for the asset class International Fixed Interest. Can provide a steady and reliable income stream with potential for capital growth and usually offers a higher interest rate, or yield, than cash. Includes Australian government bonds, Australian company bonds plus Australian special infrastructure bonds."
  • In Interview: Equities Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic Equities. Potential for capital growth, and may offer income through the payment of dividends with imputation credits. The Trustee may choose to invest in Australian companies either directly or using managed funds or listed companies."
    
    Added caption for "Please enter the allocation for the asset class International Equities. Potential for capital growth, and may offer income through the payment of dividends with imputation credits. The Trustee may choose to invest in Australian companies either directly or using managed funds or listed companies."
  • In Interview: Property Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic Property. Provides the benefits of diversification through access to Australian properties in retail, office, industrial, tourism and infrastructure sectors. You can invest in Australian property directly or via managed funds or syndicates."
    
    Added caption for "Please enter the allocation for the asset class International Property. Provides the benefits of diversification through access to Australian properties in retail, office, industrial, tourism and infrastructure sectors. You can invest in Australian property directly or via managed funds or syndicates."
  • In Interview: Alternative Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic Alternative. An investment in an asset that does not fall within the traditional asset classes noted above. They include hedge funds, private equity, art and antiques, futures, derivatives, commodities, credit, equity crowdfunding, etc."
    
    Added caption for "Please enter the allocation for the asset class International Alternative. An investment in an asset that does not fall within the traditional asset classes noted above. They include hedge funds, private equity, art and antiques, futures, derivatives, commodities, credit, equity crowdfunding, etc."
  • In Interview: Cryptocurrency Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic Crypto. Invested via cryptocurrency exchanges or other similar applications or platforms. Highly volatile and risky due to limited regulation. Low diversification."
    
    Added caption for "Please enter the allocation for the asset class International Crypto. Invested via cryptocurrency exchanges or other similar applications or platforms. Highly volatile and risky due to limited regulation. Low diversification."
  • In Interview: Borrowing Strategy Tab - When Would you like to have a benchmark for the allocation? Selected No.
    Added caption for "Please enter the allocation for the asset class Domestic Borrowing. The Trustee may elect to acquire investments such as property or shares using a limited recourse borrowing arrangement or self funding instalment warrants."
    
    Added caption for "Please enter the allocation for the asset class International Borrowing. The Trustee may elect to acquire investments such as property or shares using a limited recourse borrowing arrangement or self funding instalment warrants."

• 20/02/2025 Legal Disclaimer - Added the DocID#: (Number) and Document Name. Note: Maximum character to included is set to 60 on the footer of all documents.
• 27/02/2025 The LYD Will and EPOA, The LYD Will & The Moat and Castle - Made the following changes:
  
  • For Principal Will - Changed the clause output of 'Specific Gifts'. If Yes, from "I hereby provide to my Executor to distribute, on a fair and reasonable basis amongst my bloodline children and grandchildren if there are any" into "I hereby provide to my Executor to distribute, on a fair and reasonable basis amongst my bloodline children, and grandchildren of any predeceased child:".
    
    In the interview, under 'Specific Gifts', changed the caption of "Would the principal like to share the estate equally by the Executor?" into "Would the Testator like the Executor to distribute the specific gift equally amongst his bloodline?".
  • For Spouse Will - Changed the clause output of 'Specific Gifts'. If Yes, from "I hereby provide to my Executor to distribute, on a fair and reasonable basis amongst my bloodline children and grandchildren if there are any" into "I hereby provide to my Executor to distribute, on a fair and reasonable basis amongst my bloodline children, and grandchildren of any predeceased child:".
    
    In the interview, under 'Specific Gifts (Spouse)', changed the caption of "Would the principal like to share the estate equally by the Executor?" into "Would the Testator like the Executor to distribute the specific gift equally amongst his bloodline?".
• 28/02/2025 Family Protection Trustee Company, Leading Member Discretionary Trustee Company & Leading Member SMSF Special Purpose Corporate Trustee - Users can now choose a chairperson to be elected from the list of Members.