Powered by MOMENTUM MEDIA
SMSF adviser logo
subscribe to our newsletter

LightYear releases trust and SMSF vesting package

grant abbott px smsf
By Miranda Brownlee
21 September 2022 — 1 minute read

Documentation provider LightYear Docs has announced a comprehensive windup and vesting package for discretionary trust, SMSFs and unit trusts.

The package, launched in conjunction with Abbott & Mourly Lawyers, provides a deed of vesting that caters for the wind up of SMSFs, discretionary trusts and unit trusts.

LightYear director Ashleigh Jaremyn said said some point in time, families will want to wind up or vest their SMSF, discretionary trust or unit trust.

Advertisement
Advertisement

“It is not a simple process as each deed has its own requirements — not only from a legal point of view but also administratively,” Ms Jaremyn.

Abbott & Mourly Lawyers’ Grant Abbott said if vesting is not in alignment with what the deed requires, the trust will not vest and the accountant or adviser might end up with a resettlement instead of a windup, which means capital gains tax and stamp duties.

“If the trust or SMSF adviser has any concerns, like all LightYear Docs users, there is technical and legal support to make sure it is done right,” said Mr Abbott.

Ms Jaremyn said the package allows for vesting using a deed but also provides detailed trustee resolutions to ensure no stone is left unturned.

LightYear releases trust and SMSF vesting package
grant abbott px smsf
smsfadviser logo

join the discussion
VIEW ALL

SUBSCRIBE TO THE
SMSF ADVISER BULLETIN

Get the latest news and opinions delivered to your inbox each morning

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.