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Declaration of Trust Follow

- Updated
About Product
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 a property.
This declaration of trust provides that the acquirer is holding the property for the sole and exclusive use of the ultimate beneficiary.
Can this document be digitally signed?
NOT RECOMMENDED. As this document, or pack of documents, includes the establishment of a deed and/or a signature requires witnessing, Abbott & Mourly has advised that a digital signature on any part of the assembled document is NOT legally binding. This is in accordance with all current legislation. LightYear Docs will regularly review this position as part of its internal review process.
General Information
However, don’t use this for an LRBA as the bare trust needs a special bare trust.
Benefits
- It provides flexibility in relation to the acquisition of property.
- Nominee or agent acts on behalf of the real owner.
- Perfect for auctions or where the ultimate owner needs to be shielded.
- It is not a discretionary trust but only a bare trust.
Frequently Asked Legal Questions
Why use the LightYear Docs Bare Trust?
The LightYear Bare Trust is a simple trust that has extensive asset protection.
Can it be terminated?
At some stage, the Trustee of the original asset may transfer the asset to the beneficiary and this will wind up the Trust. However, if you would like legal advice to that effect contact our legal team – info@abbottmourly.com.au
What lawyers sign off on the LightYear Docs Declaration of Trust?
All LightYear documents are prepared and signed off by Abbott & Mourly from Melbourne, Sydney, and Brisbane.
Is there any training on the LightYear Docs Declaration of Trust?
We have specialist BareTrust Deed training on www.lightyeardocs.com.au in the Support Centre
Can I get a sample of this document?
Yes, please email support@lightyeardocs.com.au to request a sample document for you to review.
Can this document be digitally signed?
NOT RECOMMENDED. As this document, or pack of documents, includes the establishment of a deed and/or a signature requires witnessing, Abbott & Mourly has advised that a digital signature on any part of the assembled document is NOT legally binding. This is in accordance with all current legislation. LightYear Docs will regularly review this position as part of its internal review process.
Is the LightYear Docs Declaration of Trust reviewed regularly?
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.
What happens after I purchase this document?
After you purchase this document, you will experience first-hand the power of our assembly engine, HotDocs. An interview session will appear in what is called the HotDocs iFrame. Through the use of the iFrame technology, we are able to create document templates in minutes, versus months of coding through other methods. The iFrame also allows for rapid integrations and documentation to be assembled instantly in "lines" or packs of documents.
Can I edit my document after it has been completed?
Your document will be available to edit from the LightYear Vault for 30 DAYS after you have completed the interview process, at which point it will be locked for future edits. Your completed documents will be listed under "My Vault" from the drop-down menu in the top right-hand corner after you login. This is also where you re-launch an "interview" to make edits within the first 30 DAYS.
Can I save a document to complete later?
Yes, provided you select save, you can exit the interview process at any time. All documents that have been purchased and not yet assembled will be saved under "My In Progress Docs" and are accessible from the drop-down menu in the top right-hand corner after you login. This is also where you re-launch an "interview" to continue the interview process and assemble your document.
Related articles
Articles in this section
- Deed of Succession Appointors
- Declaration of Trust
- Leading Member Non-Foreign Purchaser Discretionary Trust
- Standard (non-fixed) Unit Trust
- SIS Reg 13.22C Related Unit Trust
- Superannuation Unrelated Investment Trust (SUIT)
- Discretionary Trust Distribution Minutes
- Addition to Designated Beneficiaries
- Standard Discretionary Trust
- Leading Member Discretionary Trust
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