All legal documents carry with them some degree of legal risk for you as an adviser as well as your clients. This risk can come in the form of non-compliance with government or regulatory bodies or in other forms such as potential litigation from disgruntled beneficiaries of the structure you are documenting.
If you are providing legal documentation to your clients, you are potentially exposed to the consequences if something goes wrong as a result of the documentation you have provided. Setting up a SMSF or Trust or registering a Company carry a low degree of legal risk, assuming you’re using quality documents. However, variation documents such as SMSF Deed updates, Changes of Trustee and Trust income streaming amendments as well as complex structures such as SMSF Bare Trusts carry a high degree of legal risk if they are not prepared with care and expertise.
REDUCING YOUR LEGAL RISK
In order to ensure you and your client are protected against this legal risk, any complex documentation ordered from Topdocs is reviewed and signed off by our associated legal practice, Topdocs Legal Pty Ltd.
Not only does this sign off ensure your documentation complies with the relevant legislative and tax office requirements, it also ensures your documentation has been prepared in line with the requirements of the existing documentation for the entity, mitigating the risks associated with disgruntled beneficiaries.
Most importantly, Topdocs Legal Pty Ltd assumes the risk and responsibility for the documents it signs off – not you. This greatly mitigates any action that can be taken against you in relation to the documentation you provide your clients.
Documents that are individually reviewed and signed off by Topdocs Legal Pty Ltd include:
- SMSF Deed Updates and Lost Deeds
- SMSF, Discretionary and Unit Trust Change of Trustee
- SMSF Bare Trusts and SMSF Bare Trust and Loan Packages
- Binding Death Benefit Nominations
- Guardian and Death Benefit Guardian applications
- Discretionary, Unit and Hybrid Trust Amendments
- Company Constitution Updates
- Loan Agreements
Topdocs is renowned for the quality of our documentation. This is achieved by Topdocs Legal Pty Ltd and a panel of other legal and advisory firms providing ongoing advice and guidance to keep all our legal precedents up to date with the most current legislative and strategic provisions.
Should you have any queries or require more information about the legal services provided by Topdocs or Topdocs Legal, please contact the team at Topdocs on 1300 659 242.