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

This is an option under the General Information tab of the template.

'Principal' is a term used in older trust deeds and is only required to be ticked if the deed that you are updating has that term in it. If your deed does not have 'Principal', you do not need to tick it. Principal means the same as 'Guardian', but is an older (and more outdated) term for 'Appointor'. 

Please be advised this is general information only, and is not to be taken as legal advice. If you would like more information, or have a legal query, please contact Abbott & Mourly directly.
Reviewed: 17/01/2024