I’m Nervous about Appointing one Person in a Fund as a Leading Member. Are we Giving Full Control of the Fund to this Person?

The Leading Member does have a lot of control and this is a risk for all members.  If any member is concerned they should leave the Fund or if the Trustee of the Fund is concerned upgrade the deed to the LightYear Docs SMSF trust deed rather than the Leading Member SMSF, it still has all the strategies just not the control.

Please be advised this is general information only, and is not to be taken as legal advice. If you would like more information, or have a legal query, please contact Abbott & Mourly directly.
Reviewed: 17/01/2024