Jan 19 - Documents update

Documents Update

• Pension Deed of Affirmation and Confirmation (PDAC) - insufficient or missing pension documentation occurs all too often and Re: Narumon's case in Queensland last year highlighted the importance of this documentation in the context of dealing with the member's death benefit.  We are in the final stages of launching this document, with both a Pension Deed that affirms and confirms that a pension exists and formally state or restate the terms and conditions of the pension based upon the knowledge and understanding of trustee(s) and member using a Replacement Pension Agreement (RPA) - e.g. RPA includes reversionary status, level of reversion, if is it a pararmount document, segregation and more. 
• Discretionary Trusts - this new form and document is now also near completion and should be available to access before the end of January.  The form allows for up to 4 primary beneficiaries, providing for both individuals and corporate.  Once launched, the development team will also finalise work on added a 'one-click' setup into CAS360, saving you time by adding the trust, trustee and beneficiaries information automatically.  For further details, you can visit the new document page - https://smartersmsf.com/documents/discretionary-family-trust/  
• Unit Trust Deed - the order form is now complete, but has a greater number of combinations for consideration in the document generation process.  We are targeting to have this new document also ready around the end of January.  In the initial release the unit trust will allow for 5 unit holders (3 of those can be joint holders) - eventually we expect to increase the number of unit holders to 20.  The unit holders cater for individuals, companies, holdings on trust (e.g. family trust or SMSF), and joint holders (e.g. John & Jane Citizen holding jointly, not as separate unit holders).  Again, post launch our development team will be working on the one-click integration with CAS360 to seamlessly add the trust, trustee and unitholder information into BGL.

• Limited Recourse Borrowing Arrangements - simplifying the order form to separate the Bare Trust from the related party loan facility agreement
• Adding a level of reversion to pensions - by %, dollar amount or to a member's transfer balance cap. 
• Create Comply - work continues on the existing suite of unlicensed accountants letters now available, bringing the current document templates into order forms and workflows for use.