2025 Releases
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      3. 2025 Releases

      March 2025 Updates

      DOCUMENT UPDATES

      • 03/03/2025 Discretionary Trust Upgrade documents and  Upgrade of Existing Leading Member Discretionary Trust - Made the following changes:
        • Added definition of Change of Jurisdiction "Change of Jurisdiction: The Trustee hereby declares that the legal jurisdiction for the Trust is South Australia, effective the date of execution of this deed." (The wordings will automatically appear if the user selected South Australia as state or a button will appear in the interview if the user choose other state but still have an option to add).
        • Added in recitals "The Trustee seeks to change the jurisdiction for the law applying to the Trust from Queensland to South Australia in accordance with the SA Supreme Court Case: CLARKE V EBDON [2020] SASC 67."
      • 04/03/2025 Changes to Discretionary Trust Positions and Name - Made the following changes within the interview
        • Changed caption when including a party entity from "Is there an Appointor, Leading Member Appointor, or Principal" to "Is there an Appointor, Leading Member Appointor, Principal or Family Protection Appointor".
        • Changed caption when including a party entity from "Select if it's an Appointor, Leading Member Appointor, or Principal." to "Select if it's an Appointor, Leading Member Appointor, Principal or Family Protection Appointor".
        • Added Family Protection Appointor to list on initial party entity selection.
        • Added Family Protection Appointor to all consent require list selection.
        • Added Current Family Protection Appointor Tab.
        • Added Successor Family Protection Appointor Tab.
        • Changing Party Tab: Added Family Protection Appointor to list of Changing Party entity options.
        • Changing Party Tab: Added Successor Family Protection Appointor to list of Changing Party entity options.
        • Clauses and Consent Tab: Added option to consent of appointing new or retired Family Protection Appointor.
        • Clauses and Consent Tab: Field of which clause consent of appointing new or retired Family Protection Appointor.
        • Clauses and Consent Tab: Added option to consent of appointing new or retired Successor Family Protection Appointor.
        • Clauses and Consent Tab: Field of which clause consent of appointing new or retired Successor Family Protection Appointor.
        • Changing Party Tab: Corrected Changing Party (Trust Name) Width UI.
        • Changing Party Tab: Emphasized the Status Position Caption UI.
        • Corrected the UI width of all Tab of each Party Type.
        • Restructured Groupings of Changing Party list within the Changing Party Tab according to this set:
          •    [Appointor, Trustee, Beneficiary, Family Protection Appointor, Leading Member Appointor]
          •    [Successor Appointor, Principal, Guardian, Successor Family Protection Appointor, Successor Leading Member Appointor]
        • Changed FPA wordings into Family Protection Appointor.
      • 06/03/2025 The Protector - In the Letter of Advice - Protector: Under the Execution of these Documents: Changed the Instructions for Execution of Mortgage Deed and Security Deed.

        Mortgage Deed - To be signed by the Mortgagor and the Mortgagee. Ensure the deed is dated. Independent witnesses are required for individual signatories. To be Forwarded to Eventum Optimum for registration.
        Security Deed - To be signed by the Grantor and the Secured Party. Ensure the deed is dated. Independent witnesses are required for individual signatories. To be Forwarded to Eventum Optimum for registration. NOTE: The Security Deed must mandatorily be registered with the PPSR within 20 days of the Loan Agreement to ensure priority.
      • 06/03/2025 Change of Trustee for Discretionary Trust - Made the following changes in the interview, within the General Information:
        • Added Family Protection Appointor in the list of option.
        • Updated caption for the question of the option list into Does the have an Appointor, Principal, Leading Member Appointor or Family Protection Appointor?
        • Added Family Protection Appointor Tab when selected within the General Information option.
      • 12/03/2025 Interview Document Setup - Within the Interview Document Setup Tab: replaced the caption for the field of logo from "Upload your logo here. This will default to the logo stored under My Company. Your company owner can change this at any time or upload an alternative below. If you would like to use the LY Legal logo, please request this from your organisation support chat in Surge.' into "Upload your logo here. This will default to the logo stored under My Company. Your company owner can change this at any time or upload an alternative below."
      • 19/03/2025 LYD Standard Company - Added share classes 'K','L' and 'M' in the option share list.
      • 19/03/2025 The LYD Will and EPOA - For NSW EPOA, added option for the electronically witnessed option within the interview and the output document and added the witnessing clause for the electronically witnessed option.
      • 19/03/2025 The Moat and Castle & The Protector - Fixed the diagram photo that is part of FPT.
      • 20/03/2025 Upgrade of Discretionary Trust to a Family Protection Trust (Non-Foreign Person) - Fixed Document Assembly Error
      • 21/03/2025 The LYD Will and EPOA & The Moat and Castle - Corrected the wordings of "Medical Practitioner" within the NSW EPOA both in the interview and document output.
      • 21/03/2025 Member Leaving A SMSF - Added a line "Purpose of Meeting" after "Held at" in the resolution. The text to be added after "Purpose of Meeting:" is:
         
        "To acknowledge and approve the exit of the Leaving Member ("the Leaving Member") from the Fund, with membership formally ceasing upon the Leaving Member’s receipt of their superannuation benefits.
         
        To acknowledge and approve the removal of the Leaving Member as the Trustee or director of the corporate Trustee of the Fund, relinquishing all associated powers, rights, obligations, and responsibilities."

        Corrected wordings of "leading Member" to "Leaving Member" in all sections of the document."
      • 24/03/2025 Enduring Power of Attorney, The LYD Will and EPOA & The Moat and Castle - Corrected Tony's email link within the front page of the EPOA
      • 31/03/2025 Member Directed Investment Strategy & SMSF Investment Strategy - Fund - Fixed Asset Class Table Formatting Issue

      DOCUMENT RELEASE

      07 March 2025 – Conversion of a Transition to Retirement Income Stream (TRIS) to an Account Based Pension and Partial TRIS Commutation was launched, marking the commencement of full retirement phase and enabling access to unrestricted pension benefits.