$165.00
This is a discretionary trust that accords with the Bamford decision and focuses on the succession of appointors upon death, divorce, dementia or bankruptcy. It is subject to the Rule against Perpetuities and will last 80 years unless it is governed by South Australian law.
If you are establishing the DT with a corporate trustee structure, please have your ACN ready. If you need to establish a new company, please first purchase the LightYear Standard Company.
A person or entity may act as an agent or nominee for another person or entity in relation to the acquisition of property. This may involve using funds from the end acquirer to buy property.
This Declaration of Trust provides that the acquirer is holding the property for the sole and exclusive use of the ultimate beneficiary.
► $165.00 (inc GST) – OR provided under your unlimited membership
► The master document has been signed off by LY Legal and is congruent with Australian law.
What are the benefits of using a Corporate Trustee with the LightYear DT?
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.
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.
The issue is resettlement. As there is possibly a change in terms of the deed as well as beneficiaries it may result in a resettlement. However, if you would like legal advice to that effect, contact our legal team: info@abbottmourly.com.au.
All LightYear documents are prepared and signed off by Abbott & Mourly from Melbourne, Sydney and Brisbane.
We have an email newsletter on tax planning and asset protection using a LightYear Docs Discretionary Trust as well as a video with Grant Abbott, explaining “The Importance of using a Discretionary Trust for your Small Business or Farm”.
The fees and stamping requirements for establishing a trust deed vary throughout Australia, and the duty payable also varies depending on the type of property that is held by the trust. Please contact our partners at Eventum Optimum (EO) on info@eventumoptimum.com.au for more information on when stamping is required (in what jurisdictions) and the fees/duties payable. EO are able to provide this service to you.
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.
$165.00
This is a discretionary trust that accords with the Bamford decision and focuses on the succession of appointors upon death, divorce, dementia or bankruptcy. It is subject to the Rule against Perpetuities and will last 80 years unless it is governed by South Australian law.
If you are establishing the DT with a corporate trustee structure, please have your ACN ready. If you need to establish a new company, please first purchase the LightYear Standard Company.
A person or entity may act as an agent or nominee for another person or entity in relation to the acquisition of property. This may involve using funds from the end acquirer to buy property.
This Declaration of Trust provides that the acquirer is holding the property for the sole and exclusive use of the ultimate beneficiary.
► $165.00 (inc GST) – OR provided under your unlimited membership
► The master document has been signed off by LY Legal and is congruent with Australian law.
What are the benefits of using a Corporate Trustee with the LightYear DT?
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.
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.
The issue is resettlement. As there is possibly a change in terms of the deed as well as beneficiaries it may result in a resettlement. However, if you would like legal advice to that effect, contact our legal team: info@abbottmourly.com.au.
All LightYear documents are prepared and signed off by Abbott & Mourly from Melbourne, Sydney and Brisbane.
We have an email newsletter on tax planning and asset protection using a LightYear Docs Discretionary Trust as well as a video with Grant Abbott, explaining “The Importance of using a Discretionary Trust for your Small Business or Farm”.
The fees and stamping requirements for establishing a trust deed vary throughout Australia, and the duty payable also varies depending on the type of property that is held by the trust. Please contact our partners at Eventum Optimum (EO) on info@eventumoptimum.com.au for more information on when stamping is required (in what jurisdictions) and the fees/duties payable. EO are able to provide this service to you.
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.
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