Current Trust Establishment Documents
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      Non Fixed Unit Trust (Individual and Corporate)

      About Product

      The LightYear Docs Unit Trust is perfect for all unitholders. It has also been designed for SMSF investors and can be used to run a business, act as a mergers and acquisition vehicle, a joint venture property development vehicle, as well as holding passive investments.

      ► $129.00 (inc GST) - OR provided under your unlimited membership

      ► The master document has been signed off by Abbott & Mourly and is congruent with Australian law.

      General Information

      The LightYear Docs Unit Trust is perfect for all unitholders but has also been designed for SMSF investors and can be used to run a business, act as a mergers and acquisition vehicle, a perfect joint venture property development vehicle as well as holding passive investments.

      If two or more SMSFs are investing please use the Superannuation Unrelated Investment Trust.

      Benefits

      A unit trust, where a SMSF investor does not hold more than 50% of the issued units of the trust, nor holds a power of appointment or controls the trustee, is not an in-house asset and enables leverage to be introduced into the equation for a SMSF.  Great for business buy outs using SMSF money and a JV vehicle between a SMSF and Family Trust. 

      If two or more SMSFs are investing please use the Superannuation Unrelated Investment Trust.

      Frequently Asked Legal Questions

      Can my existing Unit Trust be upgraded to a LightYear Unit Trust?

      The issue is resettlement.  As there is possibly a significant change in terms of the trust it may result in a resettlement.  However, if you would like legal advice to that effect contact our legal team – info@abbottmourly.com.au

      How does the Standard (non-fixed) Unit Trust differ from the Fixed Trust?

      The Unit Trust is a flexible unit trust which can be used for the purposes noted above however it does provide the Trustee with flexibility which means that it is not a Fixed Trust as per the NSW Office of State Revenue determination

      How long does this document take to assemble?

      Depending on the complexity of the data, this document should take approximately 30-50 secs to assemble. If you experience timing outside of this please contact Support via the Surge app, alternatively please read this article for troubleshooting tips https://info.lightyeardocs.com.au/supportcentre/troubleshooting-longer-assembly-times-timeouts .

      Is this document a legal document?

      All master documents have been signed off by Abbott & Mourly lawyers. Tony Anamourlis of Abbott & Mourly advises that “at no time, due to inbuilt legal protection and security measures can a user change or amend a document on the LightYear Docs platform that has been signed off by a practicing solicitor. To do so would result in the user drafting a document of a legal nature and engaging in the provision of legal services. In addition, it would be a breach of copyright. In our opinion when completing the form fields through the LightYear Docs platform, users and their employees are merely carrying out an administrative task which is not the provision of legal advice.”

      However in some complex areas such as the insertion of a varied range of client instructions into a Will or other such documents the user must be mindful of the extent to which a document is being drafted by the user rather than merely the administrative task of completing a form where the relevant fields are inserted into the reviewed and signed  legal document provided by Abbott & Mourly.

      The above advice is born out of numerous cases dating back to Re Sanderson, Ex parte Law Institute of Victoria [1927] VLR 394, 397 where the Court held:

      “if a person does a thing usually done by a solicitor, and does it in such a way as to lead to the reasonable inference that he is a solicitor – if he combines professing to be a solicitor with action usually taken by a solicitor – I think he then does act as a solicitor.”

      Likewise in ACCC v Murray (2002) 121 FCR 428, 448 where Murray was building a franchise business that involved the legal writing and drafting of Wills from scratch based on the client’s personal circumstances.  The Court held that this process was legal work.

      Is the document easy to read?

      All LightYear Docs products are written in plain English and assessed for readability. If at any time you come across any errors, please contact support@lightyeardocs.com.au.

      What lawyers sign off on the LightYear Docs documents?

      All LightYear documents are prepared and signed off by Abbott & Mourly from Melbourne, Sydney and Brisbane.

      Are the LightYear Docs documents reviewed regularly?

      All LightYear Docs documents form part of the LightYear Docs internal review process. We review all documents at least annually or when required to do so due to changes in legislation. Further details of this process and a review schedule is include on this website.

      Can I get a sample of this document?

      Yes, please email support@lightyeardocs.com.au to request a sample document for you to review.

      Stamping and Lodgement of Trusts

      The fees and stamping requirements for establishing a trust deed vary throughout Australia, and the duty payable also varies depending on the type of property that is held by the trust. Please contact our partners at Eventum Optimum (EO) on info@eventumoptimum.com.au for more information on when stamping is required (in what jurisdictions) and the fees/duties payable. EO are able to provide this service to you.

      How does the Standard (non-fixed) Unit Trust differ from the Fixed Trust?

      The Unit Trust is a flexible unit trust which can be used for the purposes noted above however it does provide the Trustee with flexibility which means that it is not a Fixed Trust as per the NSW Office of State Revenue determination.