Generate the following documents using LightYear Docs • Constitution Upgrade • Resolution to appoint a Successor Director
A successor director is a person who automatically becomes your nominated successor – a fully-fledged director of your company – in the event that you lose capacity or die. That means that if you are suddenly out of the picture, your family can maintain control of your interests
Watch this video from LYD on how to set up the Success Director for a company in their system.
When do you notify ASIC in relation to a Successor Director?
In terms of the successor director, LightYear Docs produces the binding resolution to appoint a director in the event of something happening. As such there is no need to notify ASIC until the director is appointed as at that time the other will be removed.
The Successor Director Solution
In this session we will look at what happens in the event a director of a trustee company, family business company or investment company dies or becomes incapacitated. In practice without the elegant solution of Successor Directors, a business - trust or investment will run into the ground. The LightYear Docs Successor Directors solution is a great stand alone solution to the important succession problem.
FAQ on Success Director
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