The default ranks in game are from highest to lowest:
Guild Leader
Officer
Lieutenant
Member
Recruit
i dont see the point of changing the names, but you can make them more fiting for star wars - like from acolyte, through apprentice, lord to darth for example.
Leader sets the different permissions for each of these ranks, including who can view and send messages in guild chat or officer chat, who can change the guild message of the day or edit the guild description, and what ranks will be allowed to view or set officer and member notes. You can also decide what rank can invite other players. Only guild leaders can adjust the guild settings. Other officers cannot. Most of the default settings can be limited, so make sure to look at this panel as soon as possible after starting your guild.
I would be careful with guild bank acces to prevent guild bank theft, when it comes to recruitment though - if everyone can invite its much more comfortable for everyone and guild expand faster, but there might be some bad seeds joining your guild.
From what ive seen people want teamspeak, guild ship and regular ops groups in guild - so pretty much sooner or later if you want to keep your guild alive u need to take care of these things.