Current SMSF Establish, Maintain and Upgrade
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      SMSF Deed of Vesting

      About Product

      This document serves the purpose of winding up a SMSF. Upon the death of the last member of a SMSF or earlier, such as when the SMSF account balances are too small, the trustee may decide to wind up the fund. This document produces the relevant vesting resolution and minutes to wind up the SMSF with consent of the Trustee.

      ► $99.00 (inc GST) - OR provided under your unlimited membership

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

      General Information

      Generally the trust deed has a process to wind up the fund with the trustees or the Leading Members consent and determination. It is important to review the current deed to determine the winding up process and criteria.

      Benefits

      • The LightYear Docs SMSF wind up document is for SMSFs only and not discretionary trusts or unit trusts that have their own process.
      • Simple and easy to use without resorting to legal advice.
      • Essential for the preparation of accounts and taxes, expenses and final member balances to be paid out by the trustee.

      Frequently Asked Legal Questions

      Do I need to upgrade to a LightYear Docs SMSF first?

      Some trust deeds do not have a voluntary wind up clause so you may need to either seek advice from Abbott & Mourly solicitors or vary the deed to a LightYear Docs SMSF first.  If you would like legal advice please contact Tony Anamourlis - tanamourlis@abbottmourly.com.au.

      How long does this document take to assemble?

      Depending on the complexity of the data, this document should take approximately 30-50 secs 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.

      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.

      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.

      Can I get a sample of this document?

      Yes, please email support@lightyeardocs.com.au to request a sample document for you to review.