Description

The Leading Member Discretionary Trust (“LMDT”) is a discretionary trust that accords with the Bamford decision 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.

► $229.00 (inc GST) – OR provided under your unlimited membership

► The master document has been signed off by Abbott & Mourly and is congruent with Australian law.