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.

“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.