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Authors: Anna O’Callaghan and James Pullar
Published: 26 May 2021
Pages: 19
Many people consider a will to be a simple document. Instructions for wills are routinely passed on to graduate lawyers and legal executives to complete, and charged for accordingly. Some law firms choose to prepare wills for clients free of charge. However, there are an array of ways in which bad drafting, and lack of consideration as to the consequences of the arrangements being documented, can cause complicated (and costly) issues upon the death of the will maker.
In this context, will makers often have a family trust to consider, in addition to the assets in their personal name. Careful attention needs to be paid to the nexus between the terms of the trust deed and the terms of the will. In addition, the more general interplay with trust law often informs how issues arising in estate administration may be resolved. Likewise, the legislative and equitable foundations for claims against estates must be borne in mind when preparing a will as they can have significant ramifications on the administration of an estate.
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Taylor Shaw,
Christchurch
Taylor Shaw
Christchurch