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October 2025 Updates

DOCUMENT UPDATES

  • 01/10/2025 Company Constitution Variation to LightYear Docs SMSF Special Purpose Company - Fixed Rule 16 blank wordings.
  • 07/10/2025 Change of Trustee for Discretionary Trust - Applied font change from Calibri into Arial
  • 07/10/2025 Declaration of Trust/Declaration of Bare Trust - Following changes were made:
    • Applied font change from Calibri into Arial
    • Attached General Letter of Advice - Bare Trust Deed
    • Fixed Recitals numbering library.
    • Changed Recitals (A) wordings into "The Trustee hereby declares that it holds the Trust Property on trust for the benefit of the Beneficiary."
    • Changed Recitals (B) wordings into "The Trust is a bare trust for the sole benefit of the Beneficiary."
    • Changed the wordings of Terms of the Trust into "Where words are capitalized, their meaning is to be found in the Definitions in Section 7."
    • Changed the wordings of Establishment of the Declared Trust, clause (1) (a) into "Pursuant to this deed the Trustee hereby declares a Trust over the Trust Property for the sole and exclusive benefit of the Beneficiary.".
    • Changed the wordings of Ownership of the Trust Property clause (2)(a) into "the Trustee becomes the legal owner of the Trust Property;"
    • Changed the wordings of Ownership of the Trust Property clause (2)(b) into "the Beneficiary has a vested and indefeasible interest in the Trust Property; and"
    • Changed the wordings of Transfer of Legal Ownership of the Trust Property clause (3) into "The Trustee, if called upon by the Beneficiary may transfer any legal or equitable rights in the Trust Property to the Beneficiary for nil consideration."
    • Changed the wordings of Variation of Trust Deed clause (4) into "The Trustee may at any time, only on the written direction of the Beneficiary as evidenced in a deed of variation executed by the parties, amend any or all clauses under this Trust Deed including a deed of ratification and a deed of rectification."
    • Changed the wordings of Replacement Trustee clause (5) (a) into "The Beneficiary may at any time, by deed, remove the Trustee and appoint a replacement trustee."
    • Changed the wordings of Replacement Trustee clause (5) (b) into "The Trustee may also retire, at any time, by giving a written notice to the Beneficiary, in which case, the Beneficiary must appoint a replacement trustee."
    • Changed clause 6 from Other Terms and it's wordings into "Governing Law and Jurisdiction - The Trust shall be governed by, and this deed shall be construed in accordance with, the laws of <State Variable>. In relation to it and related non contractual matters each party submits to the non-exclusive jurisdiction of courts with jurisdiction there."
    • Changed the wordings of clause (7.1) and it's wordings.
      Definitions: These meanings apply unless the contrary intention appears;
      Beneficiary is <Beneficiary Variable> who is beneficially entitled to the Property held on trust by the Trustee.
      Corporations Act means the Corporations Act 2001 (Cth), as amended from time to time, and includes any regulations made under it and any successor legislation. 
      Deed means this Bare Trust Deed.
      Government Agency means any government, governmental, semi-governmental, administrative, fiscal or judicial body, department, commission, authority, tribunal, public authority, agency or entity (whether federal, state, territorial or local).
      Trust Property is the property described in Schedule 1 of this Deed and may include cash.
      Trustee of the Bare Trust means <Trustee Name Variable>."
    • Changed the wordings of clause (7.2) (j) into "an agreement, representation or warranty in favour or two or more persons is for the benefit of them jointly and each of them individually;"
    • Changed the wordings of Schedule 1 into "The Trustee holds the following ‘Trust Property’ for the sole benefit of the Beneficiary."
  • 10/10/2025 Trust Establishment,Variations and Upgrade Documents - Applied font change from Calibri into Arial
  • 10/10/2025 Discretionary Trust - (non foreign persons) & Family Protection Trust - (non-foreign persons) - Removed the wordings "This sub-clause is irrevocable if the Trust holds property in <State Variable>" in Amendment clause (12.1)(a).
  • 10/10/2025 Leading Member Discretionary Trust – (non-foreign persons) - Removed the wordings "This sub-clause is irrevocable if the Trust holds property in <State Variable>" in Amendment clause (12.1)(a).
  • 14/10/2025 The Moat and Castle - Fixed 3rd Succeeding Executor list of party selection and other included field that should be available.
  • 14/10/2025 SMSF Will with Death Benefits Protection Trust - Following changes were made:
    • Added attached clause 8 and moved the clause numbering format according to this changed within Schedule Death Benefit Protection Trust Section.
    • Fixed Members hidden signer code showing up.
    • Fixed Trustee Individual and Trustee company hidden signer code showing up.
    • Fixed Nominated Professional hidden signer code showing up.
    • Fixed Primary, Secondary, and Tertiary Beneficiary address field interview width.
    • Fixed Primary, Secondary, and Tertiary Beneficiary  hidden signer code showing up.
    • Fixed Letter of Advice SMSF Will formatting and font.
  • 17/10/2025 - Added in clause 3(b) Anyone who is not a lineal descendant or bloodline on the following documents:
    • Discretionary Trust - (individual & corporate)
    • Discretionary Trust - (non foreign persons)
    • Family Protection Trust - (individual & corporate)
    • Family Protection Trust - (non-foreign persons)
    • Leading Member Discretionary Trust - (individual & corporate)
    • Upgrade of Discretionary Trust to a Family Protection Trust
    • Upgrade of Discretionary Trust to a Family Protection Trust (Non-Foreign Person)
    • Upgrade of Discretionary Trust to a LightYear Docs Strategic Discretionary Trust
    • Upgrade of Discretionary Trust to a Non-Foreign Person Discretionary Trust
    • Upgrade of Discretionary Trust to Leading Member DT
    • Upgrade of Discretionary Trust to LM Non-Foreign Person DT
    • Upgrade of Existing Leading Member Discretionary Trust
  • 23/10/2025 The Protector - Fixed Governing State font within the Family Protection Trust (Non Foreign Person)
  • 28/10/2025 Trust Establishment Documents - Replaced the abbreviation of each state of Australia into full state name. 
  • 28/10/2025 LYD Standard Company - Following changes were made:
    • Added Other Given Name(s) for the Individual Parties if chosen, such as Currrent Director/Company Secretary, and Successor Director(s).
    • Under the Share Allocation Tab, made Shareholder field required.
    • Added caption reminder above the Shareholder(s) list with wordings "To prevent any errors in ASIC processing, please do not leave Shareholder’s list blank."
    • Filter for Share(s) will now display the Share Class, Number of Shares, Paid Share, Unpaid Shares, and Total Amount Paid within the list.
    • Filter for Share Allocation(s) will now display the Shareholder(s) Name - Share Class, Number of Shares, Paid Share, Unpaid Shares, and Total Amount Paid within the list.
  • 29/10/2025 Company Establishment documents - Following changes were made:
    • Applied font change from Calibri into Arial
    • Added Other Given Name(s) for the Individual Parties if chosen, such as Currrent Director/Company Secretary, and Successor Director(s).
  • 29/10/2025 Leading Member Discretionary Trustee Company - Removed the SPE Option from Share Class Allocation
  • 29/10/2025 LYD Standard Company - Fixed the section Tittle "Appointment of Public Officer" and "Appointment of Public Consent" Heading according to it's page arrangements.
  • 29/10/2025 Enduring Power of Attorney - Fixed South Australia Signatories Placement within the output document.
  • 31/10/2025 Discretionary Trust - (non foreign persons) - Followingchanges were made:
    • Updated the wordings of Beneficiaries Clause 3.1(a) into - "The Primary Beneficiary and their Spouse;"
    • Updated the wordings of Beneficiaries Clause 3.1(d) into - ""any other person who falls within the family group of the Primary Beneficiary for the purpose of a family trust election whether the Trustee makes that election or not;"