Question 1

Is this document a legal document?

Accepted Answer

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.

Question 2

Is the document easy to read?

Accepted Answer

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.

Question 3

Who prepares the LightYear Docs documents?

Accepted Answer

This has been prepared by Abbott & Mourly and abides with the Commissioner’s guidelines in relation to cash contributions into an SMSF.

Question 4

How does it differ from a standard SMSF?

Accepted Answer

The Leading Member SMSF is based on the LightYear SMSF with the added benefit of limiting Trustees and Members to lineal descendants via the use of a Leading Member. A Leading Member controls the Fund and succession planning for the Leading Member is catered for in the LightYear Leading Member SMSF.

Question 5

What lawyers sign off on the LightYear Docs Leading Member SMSF?

Accepted Answer

All LightYear documents are prepared and signed off by Abbott & Mourly from Melbourne, Sydney and Brisbane.

Question 6

When should the Member Appointment be completed?

Accepted Answer

After a Leading Member fund is established either initially or upon variation, when a new member seeks to join this is the relevant document to use.

Question 7

When will the Leading Member terminate membership?

Accepted Answer

The Leading Member has power to terminate, subject to paying appropriate benefits for rollover, at any time such as when the member becomes divorced and lawyers seek to discover what’s in the fund.

Question 8

Is this document reviewed regularly?

Accepted Answer

All LightYear Docs documents form part of the LightYear Docs internal document review cycle. All documents are scheduled to be reviewed at least annually or when required to do so, due to changes in legislation. The LightYear Docs review cycle ensures all of our documents remain current and accurate.

Member Appointment – Leading Member SMSF

Member Appointment – Leading Member SMSF