Company / Trust / Super Fund Set-up

Standard Company (click here to start) 

Step 1: SMSF Special Purpose Company (click here to start) 

• Complete the questions for the Company set-up in Step 1, and then; 
• Click on the link below to complete the questions for the Super Fund set-up in Step 2

Step 2: SMSF Establishment Trust Deed (click here to start) 

• If you have already set-up an SMSF Special Purpose Company then complete Step 2 only

Step 1: Family Protection Trustee Company (click here to start) 

• Complete the questions for the Company set-up in Step 1, and then; 
• Click on the link below to complete the questions for the Super Fund set-up in Step 2 

Step 2: Family Protection Trust (Non-Foreign Person) (click here to start) 

• If you have already set-up a Family Protection Trustee Company then complete Step 2 only

Step 1: Leading Member Discretionary Trustee Company (click here)

• Complete the questions for the Company set-up in Step 1, and then;
• Click on the link below to complete the questions for the Super Fund set-up in Step 2

Step 2: Leading Member Discretionary Trust (Individual & Corporate) (click here)

• If you have already set-up a Leading Member Trustee Company then complete Step 2 only

Step 1: Leading Member SMSF Special Purpose Trustee Co. (click here)

• Complete the questions for the Company set-up in Step 1, and then;
• Click on the link below to complete the questions for the Super Fund set-up in Step 2

Step 2: Leading Member SMSF Establishment Trust Deed (click here to start) 

• If you have already set-up a Leading Member Special Purpose Company then complete Step 2 only

About the Standard Company Product:

• NOTE! Once you have answered the questions in the linked questionnaire, please return to this Form to answer the questions below and SUBMIT the Form.
• The LYD’s Standard Company offers up to 8 classes of shares, as well as the ability of the Directors to offer redeemable preference shares. The constitution provides wide powers to enable the Directors to run the business.
• The LYD’s Standard Company is perfect for business and investment purposes and can undertake borrowing as well.
• It should not be used as a Trustee of an SMSF (use the SMSF Special Purpose Corporate Trustee or Leading Member Corporate Trustee instead).

Who acts as Chair?

• The Chairman has the casting vote in the event of any locked vote on the Board. The constitution allows a rotating chair or a chair who can be appointed for an indefinite or definite period.

Benefits:

• Flexible and matches the requirements of the Corporations Act 2001.
• One Director – one vote rule.
• Provides flexibility in terms of appointing a chair.
• Several classes of share and redeemable preference share offerings.
• The Directors, acting as a Board can conduct any legal business in Australia and overseas. 

 All Lightyear Docs (LYD’s) documents are prepared and signed off by Abbott & Mourly Lawyers Melbourne-Sydney-Brisbane

About the SMSF Special Purpose Company Product:

• Note! Once you have answered the questions in the linked questionnaire, please return to this Form to answer the questions below and SUBMIT the Form.
• The LYD’s Special purpose Self-Managed Super Fund (SMSF) Company Trustee is a reduced version of a standard Company. It does not pay dividends, as its sole purpose is to act as a Corporate Trustee of an SMSF.
• For Leading Member SMSF Funds the Leading Member Special Purpose SMSF Company should be used rather than this Company.

General Information:

• The Corporations Act 2001 provides special recognition for a Company acting as a Trustee of an SMSF.
• The Leading Member SMSF Special Purpose Corporate Trustee should be used in conjunction with the LightYear Docs Leading Member SMSF Deed.

Benefits:

• Flexible and matches the requirements of the Corporations Act 2001 for a special purpose Corporate Trustee.
• Provides flexibility in terms of appointing a Chair.
• The directors may not operate a business but can act as Trustee of more than one SMSF.
• Only ordinary class of shares offered.

Why have a Corporate Trustee?

• Corporate Trustee can continue acting as Trustee in perpetuity, compared to an individual who can be exposed to death, divorce, etc.
• Legal ownership over assets does not have to change when making changes to directors or shareholders, compared to individuals in which you have to change the legal ownership when they change.
• Increased asset protection.
• From a land registry, unit and share registry perspective, it provides administration simplicity as the Company is the only name on the register and if directors come and go, there is no registry change.
• Liability which is limited to the assets of the Company. Corporate Trustees generally hold limited assets and are shell companies.
• All Company documents are prepared and signed off by Abbott & Mourly (Lawyers) from Melbourne, Sydney, and Brisbane.

 How does it differ from an ordinary Company?

• The Leading Member Corporate Trustee (LMCT) is a special purpose Company that provides:
  • Succession planning in the Trustee Appointors to ensure on-going continuity.
  • Provides power of veto to the Leading Member Appointor as well as the ability to limit or extend the class of beneficiaries.

 All Lightyear Docs (LYD’s) documents are prepared and signed off by Abbott & Mourly Lawyers Melbourne-Sydney-Brisbane

About the SMSF Establishment Trust Deed Product:

• Note! Once you have answered the questions in the linked questionnaire, please return to this Form to answer the questions below and SUBMIT the Form.
• This LightYear Self-Managed Super Fund (SMSF) Trust Deed is simple, easy to read and reflects all recent and current superannuation legislation and strategic changes.
• For those seeking to protect Bloodline wealth, The Leading Member SMSF Establishment Trust Deed is the preferred vehicle of choice.

General Information about Creating a Trust Deed: 

• Because an SMSF is a Trust, creating and executing the Trust Deed will legally establish your fund. Once you've chosen your trustees, the next step is to create a trust deed. A Trust Deed is a legal document that sets out the rules and requirements of your SMSF, such as how it will be managed, who the trustees are, and how the fund will be run. It is the very law that governs your fund and that is why it is crucial that you not only understand it well but get it right and ensure that it complies with the SIS Act, 1993.

Why use the LightYear Docs SMSF Trust Deed?

• The LightYear Docs SMSF Trust Deed is the latest and best SMSF Trust Deed authored by Grant Abbott.
• It covers a multitude of modern strategies and SMSF Estate Planning.
• It works well with the special purpose company constitution and perfect to upgrade as a two-fold structure.

Benefits of a Lightyear Docs SMSF Deed:

• Easy to read and understand.
• Filled with fantastic strategies.
• Signed off by Abbott & Mourly.
• A legacy product dating 20 years or more.
• Newly authored and covers all recent legislation changes.
• Written by Australia’s foremost legal, technical, and strategic expert, Grant Abbott.
• Younger members can access older members’ imputation credits to ensure they are not lost. 

Benefits of a Self-Managed Super Fund (SMSF) in Australia are:

• Borrowing.
• Tax strategies.
• Estate planning.
• Asset protection.
• More control over your investments.
• Can be used to acquire business assets.
• Tailor the fund to meet the needs of the members.
• Concessional tax rate of 15% for investment income.
• Flexibility to invest in assets you would not have been able to as an individual.
• Can benefit the users and their beneficiaries by building and transferring personal wealth over time.

  All Lightyear Docs (LYD’s) documents are prepared and signed off by Abbott & Mourly Lawyers Melbourne-Sydney-Brisbane

About the Family Protection Trustee Company Product:

• NOTE! Once you have answered the questions in the linked questionnaire, please return to this Form to answer the questions below and SUBMIT the Form.
• Where a LYD’s Family Protection Trust (FPT) is being established or upgraded the best Trustee is a Family Protection Trustee Company.
• This ensures that the Family Protection Appointors control the Trustee and have veto over all decisions.

General Information:

• The Family Protection Corporate Trustee Trust (FPCTT) along with the Leading Member Family Protection Appointor, control the Family Protection Trust (FPT). The beauty of the FPCTT is that it lasts beyond the life of a Leading Member Family Protection Appointor. It also ensures the control of the FPT passes to the next Appointor, without the Company being muddied by an estate challenge on the death of the Appointor.

A strong FPCTT ensures:

• Succession planning in the Trustee Appointors to ensure on-going continuity.
• Provide power of veto to the Leading Member Family Protection Appointor as well as the ability to limit or extend the class of beneficiaries.

How does it differ from an ordinary Company?

• This Leading FPCTT is a special purpose Company that provides:
  • Succession planning in the Trustee Appointors to ensure on-going continuity.
  • Provide power of veto to the Leading Member Appointor as well as the ability to limit or extend the class of beneficiaries. 

 All Lightyear Docs (LYD’s) documents are prepared and signed off by Abbott & Mourly Lawyers Melbourne-Sydney-Brisbane

About the Family Protection Trust (Non-Foreign Person) Product

• NOTE! Once you have answered the questions in the linked questionnaire, please return to this Form to answer the questions below and SUBMIT the Form.
• The LightYear Docs Family Protection Trust (“FPT”) is a discretionary trust that accords with the Bamford decision (The 2010 High Court of Australia case of Commissioner of Taxation v. Bamford clarified the meaning of income of the trust estate and share of income.), is discretionary and its strength lies in the succession of Leading Member Family Protection Appointors.
• One of the most important things for any professional, executive, business owner or any person subject to litigation is to provide asset protection and pass their wealth to their bloodline.
• LightYear Docs is strong on asset protection and the Family Protection Trust is a stand-alone discretionary trust or to be used with The Protector strategy available on LightYear Docs. This Family Protection Trust also includes added protection against foreign persons, with additional non-foreign person clauses available throughout.

General Information:

• The original Leading Member Family Protection Appointor (“LMFPA”), which may be a joint LMFPA, controls the trust, the trustee, and the beneficiaries – all for the benefit of the LMFPA’s bloodline.
• Upon the death, divorce, dementia, or bankruptcy of a current LMFPA, the role is passed to the next succeeding LMFPA and so on down for the life of the FPT to ensure longevity, safety, security and certainty. 
• In addition, bloodline beneficiaries of the LMFPA are core primary beneficiaries to be distributed to before any non-bloodline. The LMFPA has the power to deem a person, such as their spouse as bloodline. 
• For non-bloodline or non-succession control, the LightYear Discretionary Trust should be used. Please note no foreign persons are able to sit in any position of the trust.

Benefits:

• Simple and easy to prepare.
• Keeps family wealth in the bloodline. 
• Focuses on succession in a family so the Family Protection Trust lasts for generations (subject to the rule against perpetuities).

How does it differ from an ordinary Discretionary Trust?

• The FPT is based on the LightYear Discretionary Trust with the added value of limiting Trustees, Appointors and Beneficiaries to bloodline with a strong focus on succession in the Leading Member Family Protection Appointor.  For bucket companies, a standard Company should be used as well as a Leading Member Trustee company as the Trustee.

Stamping and Lodgement of Trusts:

• 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.
• When the time comes we will advise when or if stamping is required (in what jurisdictions) and what the fees/duties payable are.

All Lightyear Docs (LYD’s) documents are prepared and signed off by Abbott & Mourly Lawyers Melbourne-Sydney-Brisbane

About the Leading Member Discretionary Trustee Company Product:

• Once you have answered the questions in the linked questionnaire, please return to this Form to answer the questions below and SUBMIT the Form.
• Where a LYD’s Leading Member Discretionary Trust (LMDT) is being established or upgraded the best Trustee is a Leading Member Corporate Trustee (LMCT) for Discretionary Trusts. 
• This ensures that the Leading Member Appointors control the Trustee and have veto over all decisions.

General Information:

• The LMCT along with the Leading Member Appointor, control the LMDT.
• The beauty of the LMDT is that it lasts beyond the life of a Leading Member Appointor.
• It also ensures the control of the LMCT passes to the next Appointor, without the Company being muddied by an estate challenge on the death of the Appointor.
• A Leading Member is the initial person who is provided with the power to appoint
  and remove a Member or Trustee and is appointed as the Leading Member of
  the Fund for which this company acts as Trustee.

A strong LMCT ensures:

• Succession planning in the Trustee Appointors to ensure on-going continuity.
• Provide power of veto to the Leading Member Appointor as well as the ability to limit or extend the class of beneficiaries.
• Only lineage or bloodline beneficiaries are looked after.

How does it differ from an ordinary Company?

• The LYD’s Leading LMCT is a special purpose Company that provides:
• Succession planning in the Trustee Appointors to ensure on-going continuity.
• Power of veto to the Leading Member Appointor as well as the ability to limit or extend the class of beneficiaries.

 All Lightyear Docs (LYD’s) documents are prepared and signed off by Abbott & Mourly Lawyers Melbourne-Sydney-Brisbane

About the Leading Member Discretionary Trust Product (Individual & Corporate)

• Once you have answered the questions in the linked questionnaire, please return to this Form to answer the questions below and SUBMIT the Form.
• The Leading Member Discretionary Trust ("LMDT") is a discretionary trust that accords with the Bamford decision (The 2010 High Court of Australia case of Commissioner of Taxation v. Bamford clarified the meaning of income of the trust estate and share of income.) and focuses on the succession of appointors to lineal descendants upon death, divorce, dementia or bankruptcy.
• In addition, lineal beneficiaries are core primary beneficiaries to be distributed to before any non-lineal. The appointor has the power to deem a person, such as their spouse, as lineal. For non-lineal (or non-leading member), the LightYear Standard Discretionary Trust should be used.
• One of the most important things for a small business client is to provide asset protection and to pass their wealth and, in some cases, their business, to lineal descendants.

General Information:

• If you are establishing the LMDT with a corporate trustee structure, please have your ACN ready. If you need to establish a new company, please first purchase the LightYear Leading Member Corporate Trustee (LMCT) for Discretionary Trusts.

Benefits:

• Easy to read and understand.
• Covers off issues arising from the Bamford decision.
• Keeping the trust assets within the lineal descendants just as the British Royal Family does.
• Focuses on the succession of appointors to lineal descendants upon death, divorce, dementia or bankruptcy.
• Written by Australia’s foremost legal, technical and strategic expert, Grant Abbott and signed off by Abbott & Mourly.

 What are the benefits of using a Corporate Trustee with the LightYear DT?

• Increased asset protection.
• Corporate Trustee can continue acting as trustee in perpetuity, compared to an individual who can be exposed to death, divorce, etc.
• Legal ownership over assets does not have to change when making changes to directors or shareholders, compared to individuals in which you have to change the legal ownership when they change.
• From a land registry, unit and share registry perspective, it provides administration simplicity as the company is the only name on the register and if directors come and go, there is no registry change.
• Liability which is limited to the assets of the company. Corporate trustees generally hold limited assets and are shell companies.

How does it differ from an ordinary Discretionary Trust?

• The LMDT is based on the LightYear Discretionary Trust with the added value of limiting Trustees, Appointors and Beneficiaries to lineal descendants. This establishes the Discretionary Trust (DT) as Leading Member Trust.

All Lightyear Docs (LYD’s) documents are prepared and signed off by Abbott & Mourly Lawyers Melbourne-Sydney-Brisbane

About the Leading Member SMSF Special Purpose Trustee Company Product:

• Once you have answered the questions in the linked questionnaire, please return to this Form to answer the questions below and SUBMIT the Form. 
• The LYD’s Leading Member SMSF Special Purpose Trustee Company is a basic version of a standard Company which will not pay dividends, as its sole purpose will be to act as a Corporate Trustee of a Leading Member SMSF.
• For Standard SMSF Funds a special purpose SMSF Company should be used rather than this Company.

 General Information:

• The Corporations Act 2001 provides special recognition for a Company acting as a Trustee of an SMSF.
• The Leading Member SMSF Special Purpose Corporate Trustee should be used in conjunction with the LightYear Docs Leading Member SMSF Deed.
• For Standard SMSF Funds the special purpose SMSF Company should be used rather than this Company.

Benefits:

• Flexible and matches the requirements of the Corporations Act 2001 for a special purpose Corporate Trustee.
• The Leading Member of the Fund is automatically appointed as Chair.
• One director - one vote rule with Leading Member veto power.
• The Leading Member can appoint or remove Directors.
• Upon the death of a member, the Board of Directors must appoint the deceased members LPR as a Director or lose its Trusteeship.
• Upon death, only the deceased member's LPR as a Director has a vote in relation to the payment of the deceased member's death benefits.
• All of the shares of the Company are held by the Leading Member. Upon the death of the Leading Member, these shares are cancelled and new shares issues to the incoming Leading Member.
• Provides flexibility in terms of appointing a Chair.
• Only ordinary class of shares offered.

 Why have a Corporate Trustee?

• Corporate Trustee can continue acting as Trustee in perpetuity, compared to an individual who can be exposed to death, divorce, etc.
• Legal ownership over assets does not have to change when making changes to directors or shareholders, compared to individuals in which you have to change the legal ownership when they change.
• Increased asset protection.
• From a land registry, unit and share registry perspective, it provides administration simplicity as the Company is the only name on the register and if directors come and go, there is no registry change.
• Liability which is limited to the assets of the Company. Corporate Trustees generally hold limited assets and are shell companies.

 Who acts as Chair?

• The Leading Member of the Fund is the chair and has the casting vote in the event of any locked vote on the Board. The Leading Member has a veto on any Board decision.
• What happens on death of a member / Director of the Leading Member SMSF Corporate Trustee?
• On death of a member, the Board of Directors must appoint the deceased members Legal Personal Representative (LPR) as a Director or lose its Trusteeship. In addition, the deceased members LPR as a Director has the only vote in relation to the payment of the deceased member's death benefits.

What can the Leading Member control?

• The Leading Member holds a powerful position in the Company and owns all the shares and has Board veto power. In addition, the Leading Member is the only person who can appoint or remove a Director.

What happens when the Leading Member dies?

• The LYD’s Leading Member SMSF Trust Deed provides succession in terms of the Leading Member and on the death of the Leading Member, these shares are cancelled, and new shares issued to the incoming Leading Member. 

All Lightyear Docs (LYD’s) documents are prepared and signed off by Abbott & Mourly Lawyers Melbourne-Sydney-Brisbane

About the Leading Member SMSF Establishment Trust Deed Product

• Once you have answered the questions in the linked questionnaire, please return to this Form to answer the questions below and SUBMIT the Form.
• The Leading Member Self-Managed Super Fund (SMSF) is an SMSF that focuses on the succession of an SMSF to lineal descendants of the Leading member and the passing of superannuation benefits to lineal descendants via pensions or lump sum distributions.
• In addition, the Leading Member controls the Trusteeship of the Fund as well as who the members of the Fund are (generally lineal) and what happens in the event of divorce, dementia or bankruptcy. The Leading Member has the power to deem a person, such as their spouse, as lineal.
• For non-lineal requirements, the LightYear standard SMSF should be used.
• This document is for a Corporate Trustee structure and new fund establishment. It includes the SMSF Deed only. If you need to establish a corporate trustee for this fund please use the "Leading Member SMSF Special Purpose Corporate Trustee".
• This is NOT a variation document. Please use the Leading Member SMSF Deed of Variation to vary an existing SMSF into the Leading Member Structure. 
• If upgrading is required, we also recommend upgrading to an SMSF Special Purpose Corporate Trustee to the Leading Member SMSF Special Purpose Trustee. You can combine both using the Leading Member Kit.

General Information:

• One of the most important things for a high-net-worth client with sizable SMSF member balances is to provide asset protection and pass their wealth to their lineal descendants.

Benefits:

• Increased asset protection.
• Easy to read and understand.
• Filled with fantastic strategies.
• Signed off by Abbott & Mourly.
• A legacy product dating 20 years or more.
• Newly authored and covers recent SMSF legislation updates.
• Keeping the Family SMSF Wealth within the lineal descendants just as the English Royal Family does.
• Written by Australia’s foremost legal, technical, and strategic expert, Grant Abbott.
• Younger members can access older members’ imputation credits to ensure they are not lost.
• Corporate Trustee can continue acting as trustee in perpetuity, compared to an individual who can be exposed to death, divorce, etc.
• From a land registry, unit and share registry perspective, it provides administration simplicity as the company is the only name on the register and if directors come and go, there is no registry change.
• Liability which is limited to the assets of the company. Corporate trustees generally hold limited assets and are shell companies.
• Legal ownership over assets does not have to change when making changes to directors or shareholders, compared to individuals in which you have to change the legal ownership when they change.

How does it differ from a standard SMSF?

• 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.

Why a Leading Member SMSF:

• “The mission of a Leading Member SMSF is to look after and provide for generations of the family lineage of the originating Leading Member of the family SMSF.
• It is the highest calling and turns an SMSF from a simple investment vehicle into a multi-dimensional environment to protect and grow the superannuation wealth and benefits of members.” -Grant Abbott, author of the Guru’s Guide to SMSFs.

All Lightyear Docs (LYD’s) documents are prepared and signed off by Abbott & Mourly Lawyers Melbourne-Sydney-Brisbane