2025 Releases
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      3. 2025 Releases

      May 2025 Updates

      DOCUMENT UPDATES

      • 01/05/2025 All Purpose Loan Agreement - Fixed Corporate Act 2001 formatting in the document output.
      • 01/05/2025 The LYD Will and EPOA - Assets in the security deed to show up in the Loan Agreement's Schedule 1 and changed the wordings "Charged Property" into "Charged Property (Non-Property Assets)".
      • 01/05/2025 Related Party LRBA (Shares) - Changed the definition of 1.5: Capitalisation of Principal and Interest into "No principal or interest repayment may be capitalised under this Loan Agreement, whether temporarily or for any duration, subject to the Commissioner's guidelines on related party lending".
      • 03/05/2025 Fixed Unit Trust (Taxation Purposes) - In the interview and document output, under Governing Jurisdiction Clause 28 (a and b) the state selected within the interview are now reflected in the document output.
      • 16/05/2025 Family Protection Trustee Company - Fixed the Directors Present section under the Successor Director Solution to match the interview selection.
        Document output for the Directors Present section "[Director Name(s)] with [Chairperson Name] acting as the Chairperson"
      • 19/05/2025 The Successor Director Solution - Multi Company plus upgrade Constitution - Added condition if the company is a foreign entity. The Legal element and the ACN will not appear across all the documents. but the user must indicate the Legal element of the company within the Company Name.
      • 19/05/2025 Family Protection Trust - (non-foreign persons) - Fixed Family Protection Trust for Non-Foreign Person Header and fixed Family Protection Trust for Non Foreign
      • 19/05/2025 - Added Definition (a)(vii)"Foreign Acquisitions and Takeover Act 1975" under Foreign-Person on the following documents:
        • The LYD Will and EPOA
        • The Moat and Castle
        • The Protector
        • Discretionary Trust - (non foreign persons)
        • Family Protection Trust - (non-foreign persons)
        • Leading Member Discretionary Trust – (non-foreign persons)
        • Upgrade of Discretionary Trust to a Family Protection Trust (Non-Foreign Person)
        • Upgrade of Discretionary Trust to a Non-Foreign Person Discretionary Trust
        • Upgrade of Discretionary Trust to LM Non-Foreign Person DT
      • 20/05/2025 The LYD Will and EPOA, The LYD Will & The Moat and Castle - removed the wordings "or who share their DNA" in the part of Primary Beneficiaries within the Wills (Principal and Spouse).
      • 21/05/2025 The Protector - Assets in the security deed to show up in the Loan Agreement's Schedule 1 and changed the wordings "Charged Property" into "Charged Property (Non-Property Assets)".
      • 23/05/2025 The LYD Will and EPOA, The LYD Will & The Moat and Castle - Made the following changes:
        • Under the Call Option document, in Schedule 1 changed the wordings "Option Holder" to "property owner".
        • In Family Protection Trust Deed - Non Foreign, fixed header wordings.
        • In Family Protection Trust Deed - Non Foreign, fixed document title.
        • Removed Primary Beneficiaries FPA, Spouse, Corporate and Incorporated Association under the schedule 1 section.
        • Added Commencement Date, Trust Name, Excluded Beneficiaries under the schedule 1 section.
      • 26/05/2025 - Updated Index title - Clause Investment Powers into FPA Powers to the following documents:
        • Family Protection Trust - (individual & corporate)
        • Family Protection Trust - (non-foreign persons)
        • Leading Member Discretionary Trust - (individual & corporate)
        • Leading Member Discretionary Trust – (non-foreign persons)
        • Upgrade of Discretionary Trust to a Family Protection Trust
        • Upgrade of Discretionary Trust to a Family Protection Trust (Non-Foreign Person)
      • 27/05/205 Contractor’s Agreement – Company Contractor (long form) - Fixed Interview caption for the Employment Information
      • 27/05/2025 Deed of Vesting (Discretionary Trust) - Help caption for the clause field text are now updated to "LY Legal".
      • 29/05/2025 All Purpose Loan Agreement - Under the Parties Agree, replaced the clause of "(1.6 or 1.8) Lender May Take Charge Borrower's Property" into "Security and Caveatable Interest".

        Security and Caveatable Interest
        a. The Borrower hereby charges, in favour of the Lender, all of the Borrower’s right, title, and interest in Property owned now as continuing security for the payment of all monies and the performance of all obligations owing under this Loan Agreement.
         
        b. Without limiting the generality of the foregoing, the Borrower expressly consents to the Lender lodging a caveat over any such real property to protect its interest under this clause.
         
        c. The Borrower further undertakes to execute, upon request by the Lender, any mortgage, charge, or other security instrument in registrable form necessary to more fully effectuate the security granted under this clause."

      DOCUMENT RELEASE

      29 May 2025 – Leading Member SMSF to Leading Member SMSF Variation

      The upgrade of your SMSF to a Leading Member SMSF structure was successfully launched, providing enhanced control and succession planning benefits for your fund.