The Protector

About Product

The Protector is perfect for any business owner, professional and person with assets in their name that may be subject to litigation, or who may have their estate challenged under the Family Provisions Act by children, grandchildren, former spouses or family who believe they are entitled to a portion of the estate.

► Provided under Strategist membership.

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

General Information

LightYear Docs The Protector is an asset protection strategy and set of documents using gifts, loan backs and assets plus lineage and blood relative protective trusts, to protect personal assets from litigation and family provisions challenges upon death.

If you require a Trustee Company, please ensure this is established first using the company products available under the ‘Company’ category on the LYD platform.

Benefits

Using strategy automation the strategy process is completed in one step; not several steps.
Easy and quick to complete, provided a determination of net equity to be transferred has been completed.
Signed off by Abbott & Mourly lawyers.
Simple to use and can be updated regularly if assets increase in value.

Frequently Asked Legal Questions

Who has prepared The Protector?

The Protector has been built by Abbott & Mourly lawyers and is the same, if not better than similar strategies other legal firms charge up to $20,000 for – depending on the size of assets.

Can we get legal advice?

Abbott & Mourly can provide legal advice for a specific client’s circumstances and/or a zoom teleconference for a discounted fee for our LightYear Docs users. Contact partner Tony Anamourlis – tanamourlis@abbottmourly for more details.

What if my assets go down in value?

That does not matter as long as the amount is secured for the loan amount.

What if my assets go up in value?

Each year you should do a net equity position and if there is an increase then a further gift and loan back can be completed to mop up the equity.

How long does this document take to assemble?

Depending on the complexity of the data, this document should take approximately 2-5 mins 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.

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.

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.