Common complexities
Common complexities that are often encountered are:
- Family arrangements that need to be considered. For
instance, sometimes the consequences of the existence of blended
families needs to be appreciated and taken account of in the
Will.
- Some of your beneficiaries may have special circumstances that
require special consideration such as mental disability, bankrupcy,
the prospect of bankrupcy in the future, possible matrimonial
breakup.
- The possible effects of inheritance legislation that permits
Wills to be challenged and the disposition of the estate altered by
court order.
- Complexities can arise from the nature of the assets,
liabilities and contingent liabilities that comprise the
estate.
- The disposition of estates can take place in a very wide
variety of ways. There may be complex arrangements that you
wish to make in your Will. It may include advising on or
including in your Will matters such as life interests or right to
occupy property, annuities or protective trusts. If this is
the case, there will be obvious complexities in working through how
you wish the estate to be disposed of and how this can be achieved
in the most efficient and effective manner. Once the scheme
of disposition is settled on, then there may be certain
complexities in the drafting of the clauses to give effect to your
wishes.
- Once you have expressed your broad wishes about the disposition
of your estate, it may well be that your professional advisers have
suggestions from an Estate Planning perspective of advantages that
are available to you. This may involve some complexities in
the preparation of your Will or Estate Plan. However, the
advantages of doing so may be compelling.
- Complications arising with business interests and associated
entity such as family companies and family trusts with complex
structures. It may be necessary to advise on or consider
company constitutions, trust deeds, financial statements and
associated documents.