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Legal, Technical & Strategy Questions

Legal, Technical & Strategy Questions

You will find FAQ we have received from advisors & our strategic responses to them.

Technical Queries

What is the Process of Upgrading a Non-LYD Constitution to an LYD one but Still Retaining the Existing Share Classes?

Questions on Family Protection Appointor (FPA)

Do you have a template for an existing SMSF to change a member's name due to marriage?

How to answer if you want to set up a Company that is going to be the Shareholder of Another Company?

Should the Interstate or Overseas Enduring Power of Attorney (EPOA) and Will Automation document be hand-signed?

What is the Definition of 'Tertiary Beneficiary' in the LYD Will document?

What template should be used to remove a SMSF member or director?

Does a Successor Appointor needs to be of legal age?

What is "Total Consideration" amount in the Deed of Assignment of Property document?

How to Exclude Individuals for Beneficiaries in a Leading Member Discretionary Trust (Individual and Corporate) document?

Would a Protector work for a Non-Resident Holder of Australian property? What would the impact be on the Land Tax?

How to Execute and Witness a Will in Victoria

Is an electronic copy acceptable to update a SMSF Trust Deed?

In changing SMSF to a LM Fund, are all the nominated successor LM required to be members of the SMSF at the time of adopting the new deed?

How can you make the standard company a trustee company?

Do you have a document to issue shares in a fixed unit trust?

Personal Concessional Contributions to SMSF through Promissory Note

Can you state an interest rate and capitalize it upon maturity of term?

What is the meaning of 'Principal' in the template, 'Upgrade of Discretionary Trust to a LightYear Docs Strategic Discretionary Trust'?

What is the Significance of Paid Versus Unpaid Shares and Its Application to SMSF Special Purpose and Standard Companies?

Adding a Child Member to a SMSF Corporate Trustee

A client owns shares in his company that owns a truck (company owned)& wants to leave it to a person - can he do this via his will or will he have to leave the company shares to this person?

Can properties held in different family members names, all be used for the protector solution in the same LM trust?

Can a non-LRBA have farm animals as a non-property asset? The animal will be used for breeding.

Death Benefit Payments

Does the member want to appoint the executor as the replacement trustee or replacement director?

Minutes as Resolutions

Self-managed Super Fund

Deed of Gift

Enduring Power of Attorney

What is a document for a client to hold residential real estate in trust on behalf of a family member?

If a company is registered and the shares issued are held by a Corporate Bare Trustee, should the Bare Trust Deed be executed on the day before the company is registered or in the same day?

Are you able to prepare a document for a client to hold residential real estate in trust on behalf of a family member?

Is a Director ID needed for each of the Successor Directors before the creation of the company?

Is it necessary for a Director to have a Director ID before creating a Company?

If I want to upgrade an old trust deed for family trust, which documents is used? What is the difference between the non-foreign and the normal documents?

Can you confirm if a Standard Company needs to be set up separately to an LRBA document to complete the corporate trustee section of the LRBA pack?

Is it possible to set-up a Unit Trust under the state of South Australia

If a client withdraws more than the minimum pension you have the option of an "Additional pension" or "Lump Sum Commutation from Pension" why would you select the commutation?

For the beneficiary of the normal Discretionary Trust Deed, will bloodline include the future spouse of their kids?

How often should you update a Discretionary Trust?

What is the issue with an overseas beneficiary if the Australian resident is living in WA with only one son who is a UK resident that will receive his entire state?

Is there a deed of variation for the exclusion of a beneficiary for a Trust?

When setting up a bare trust, can I edit in the future as we are final with the assets yet? Can the client sign first?

When setting up a protector, what documents should be selected?

I have prepared an EPOA for SA, Once prepared and signed, does this need to be lodged at the Lands Title Registration Office?

Do you have any documentation that explains why a corporate trustee shouldn't be a beneficiary of the trust that it is the trustee for?

For the SMSF establishment, the BDN are these only prepared through a SMSF Will? And is there a document for setting up the bank account or is that included in the wording of the trust deed?

Are bank kits for company documents only?

Is there a legal implication if the date where all parties have signed is different from the date the deed was made?

If the LM wants to nominate their children, can they do it if the child is below 18? If not, do they need a trustee? If yes, can they be a foreign resident?

Does SMSF deeds needs to be stamped?

To upgrade a SMSF to LM SMSF and appoint a new Director to the Corp Trustee, do I need to complete the Member Appointment to a LM SMSF form in addition to the ATO Trustee Declaration Form?

When we update/upgrade a discretionary trust deed does this require duty stamping?

Looking to upgrade a company from a standard company to a sole purpose SMSF company. It only has Articles of Association (no constitution). Can I use the template on the website to make this upgrade?

If a client to set up trust doesn't want his wife to be an appointor is it a poor asset protection strategy to have the risk person as the appointor/director and the asset person as the shareholder?

Does a nominated Successor Director (SD) sign anything upfront or only upon acceptance when the original Director dies or is incapacitated?

For an EPOA for a Western Australian to replace a previous appointees with a new ones is there an automatic revocation of the standing appointees? Or is there a separate deed of revocation to be used?

Is it possible that an SMSF with all members over 65 that a prudent strategy would be to withdraw all the taxable amounts and recontribute as non-concessional to avoid any issues with payments to non

Are we able to get a copy of the Form 201 for an SMSF company set up?

Do you have a document that converts a 7 year Div 7A loan into a secured 25 year loan?

Stamping of Deeds Across Australian States

LRBA Bank Pack - What if we don't know the details of the Property as yet? What do we do?

Mortgage and PPSR Registration Solution!

Trust Deed Signing

ATO View on Discretionary Trust Variations and Resettlement

Spouse not Added as a Beneficiary in LM Trust or Family Protection Trust

What Happens at the End of the Borrowing Arrangement?

Minutes or Deed When Establishing a SMSF or Discretionary Trust

SMSF Trustee Administrative Penalties

SMSF Trustee withholding tax rates for super lump sums

What is the Low Rate Cap for Superannuation Lump Sums and Commutations?

Landholder Duty Exemptions NSW for Deceased Estates

I am an Accountant and Tax Agent with no Licence, can I Help Clients Establish a SMSF?

Can a Deed be Signed and Witnessed Electronically? Each State Answered

The Ins and Outs of Testamentary Trusts

The Advantages of a Family Protection Trust

Completing a Unit Trust - Number of Units and Costing

Victoria Medical Decision Maker now in Place v Outdated Medical EPOA

What is the Difference between a Standard Discretionary Trust and a Family Protection Trust?

What is the Process of Converting an Allocated Pension to an Accounts Based Pension?

Is EPOA Replacement Director Solution the Same as the Successor Director Solution?

Land Taxes in Queensland - SRO Ruling

Electronic Signing of Documents - for Australia and States

What are the Victorian Stamping Requirements for a Trust Deed

Is there Stamp Duty on Transfer of Property from a SMSF - South Australia

What if we have a minor in a position that normally needs signing. What do we do?

Queensland Land Tax: Do you have a Foreign Trust Subject to a Land Tax Surcharge?

When do you use a Member Directed Investment Strategy

Does an Appointor or Leading Member need to be over 18?

Do you need to identify the property in a bare trust under a limited recourse borrowing arrangment?

Will an ordinary EPOA provide for an LPR to act as director of a SMSF Trustee Company?

How to Consolidate Multiple Pensions

Can a Corporate Attorney be used for a SMSF Trustee Company?

When does a Pension Commence and Cease - ATO Ruling TR 2013/5

Stamp Duty on Transfers of Property to an SMSF

Is a Change in Appointors, Trustees, Beneficiaries or Vesting Date for a Discretionary Trust a Resettlement?

What is the Process for Changing from Individual SMSF Trustees to a Corporate Trustee?

Which is Better for Land Tax and CGT Concessions Where a Group Acquires Property in Victoria

What to do if you have lost a Company Constitution?

Are the Enduring Powers of Attorney in the Will, the Moat and Single use all the Same?

How to do a Contributions Reserve - Deed, Reserve Documents and Investment Strategy

Can an Unlicensed Accountant or Tax Agent Help a Client Establish a SMSF

Is Upgrading a Discretionary Trust a Resettlement?

Can a Unit Trust with SMSF Unitholders Lend to an Unrelated or Related Party?

Can an Unlicensed Accountant Prepare an Investment Strategy?

Upgrade a Current SMSF to a Leading Member and Change of Trustee

What to do if we have a Lost Deed - SMSF, Discretionary Trust or Unit Trust

Successor Director: Stand Alone v EPOA

Buying Property and Using the Protector for Tax Purposes v Buying in a Family Protection Trust

Summary Process for Registering a Second Mortgage

Using Unregistered Mortgages

Using a Caveat Instead of a Second Mortgage

Undertaking Due Diligence in Second Mortgage Transactions

Process ofr Registering a Second Mortgage - VIC

Process for Registering a Second Mortgage - ACT

Process for Registering a Second Mortgage - TAS

Process for registering a Second Mortgage - SA

Process For Registering a Second Mortgage - WA

Process for Registering a Second Mortgage - NT

Process for Registering a Second Mortgage - QLD

SMSFs and Cryptocurrency such as Bitcoin

Successor Director, Leading Member, Trustee Company and Non Foreign Persons

Super Contributions after Death

SIS Regulation 13.22C, GST and SIS Act 93

Why the Deed is best for Membership NOT an Application Form

Do we need members applications or minutes as legal documents to set up a super fund?

If there are two Individual Trustees of a SMSF and one dies, how soon afterwards can you replace the deceased Trustee?

Successor Director Solution: EPOA or using the Successor Director Solution

Can a Company Act as Trustee for a SMSF and a Discretionary Trust?

See more

Companies

Share Classes Definition

ASIC fee indexation | ASIC - Australian Securities and Investments Commission

Is it possible to have a Leading Member Discretionary Trustee Company set up to take over trustee of a number of trusts without having had the trusts converted to Leading Member Discretionary Trusts?

What is the difference between a standard company and a family protection trust company?

Director Identification Number FAQ

Company Limited by Guarantee

ASIC Notification for Change of Company Constitution - Not for Private Companies

When do you Notify ASIC in Relation to a Successor Director?

Setting up an SMSF with Corporate Trustee

Business Name Availability

Register a Business Name

Renewing Your Company Registration

Understand Australian Company Numbers (ACNs)

Register an Indigenous Corporation

How long does it take to Register a Company?

The Cost of Registering a Company

Check the Availability of Your Company Name

Understand Directors' Responsibilities and Personal Liability

I cannot find the Certificate of Registration of the company I registered. How can I get a copy?

I'm getting a Manual Review Explained Error on my Company Set up. How do I Proceed?

Why is there an Increase on Price for the Company Document?

What is the LightYear Docs Company Pack?

See more

Leading Member SMSF

Can non-LM sign documents for LM SMSF?

Does the Successor Director apply to SMSF Trustees?

What is a Leading Member SMSF and how is it Different to a Standard SMSF?

What are the Benefits of a Leading Member SMSF?

Are there any Risks Associated with a Leading Member SMSF?

How does the Trustee ensure that the Leading Member acts in the best interest of the Fund?

What Happens if I do not Appoint a 2nd Leading Member, and the 1st Leading Member Passes Away Suddenly?

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?

Is a Leading Member SMSF or Trust the same as Bloodline?

Is a Leading Member Fund Legal?

See more

SMSF

Are we able to include a life interest in a SMSF Will?

Blank SMSF/Trust Minutes

Why is my TFN for my SMSF Delayed?

Should I use an Individual or Corporate Trustee Structure for an SMSF?

I use a SMSF Trust Deed from an Alternative Provider. What is the Best Way to Switch to a LightYear Docs SMSF Trust Deed?

I have multiple clients that I would like to Execute Deed Upgrades for. What is the best way to go about this?

Can a Member of a SMSF Make Investment Decisions Based Upon His or Her Own Interest?

Leading Member/SMSF Special Purpose Corporate Trustee - Why NON Share Class is Mandatory

The Ten Benefits of a SMSF and Family SMSF

SMSF Statistics - March 2021

SMSF - Does the Investment Strategy Cover Carrying on of a Business?

SMSF Deed vs Accounting Standards

Catering for Collectibles and Vintage Cars in a SMSF Investment Strategy

See more

Legal

Do you have any document that can be used to change anything in a Unit Trust?

The Protector Video

Addressing Naming Conventions for Married People

Are all of the documents available on LightYear Docs legally signed off? And if so, who is the lawyer or firm that provides this sign off?

Who are Abbott & Mourly Lawyers? Who is the Main Lawyer and What are His or Her Credentials?

Digital Signatures

The Use of LightYear Docs by Accountants and Financial Planners

Am I Providing Legal Advice using the Abbott & Mourly Lawyers Templates on the LightYear Docs Site?

Abbott & Mourly Legal Letter Sign Off

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Pricing

Whitelabelling Services (Logos on Documents)

Full Price List

About Us

LightYear Docs Testimonial from Accountant - Must Read

Who founded LightYear Docs?

Who is LightYear Docs and How Did we Get Here?

Who is Grant Abbott?

Profile and Account Features

Profile Overview - LY Surge

How to set up your LY Surge notification on your app?

How is my Data and my Clients Data Stored on the LightYear Docs Platform?

Have you Received our Emails?

How to Register on LightYear Docs

Profile Overview - Document Wizard

Where can I find my LightYear Documents?

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Robotic Process Automation

What do you mean when you speak about 'Robotic Processing Automation'?

What is an RPA Strategy Pack?

Documents & Pricing

I need a Document That I Cannot see Available on your Platform. What Should I do?

How many documents are available to the LightYear Docs platform?

Can I get a Sample of each Document?

How Often are the Documents on the LightYear Docs Platform Reviewed?

Witnessing Documents During COVID

Strategy Automation – not for Beginners or PAYG

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Troubleshooting

Most Common Scenarios and Solutions for Company registration

Troubleshooting Longer Assembly Times & Timeouts