By John Gallagher, Director of Argon Law
If you own a business, company or partnership interests, control one or more trusts, have a self-managed superannuation fund (SMSF), significant property holdings or assets, or a blended family, your estate planning needs to go beyond simple asset distribution, and a standard Will is often not enough.
For business owners and families with complex financial structures, a complex Will plays a critical role in protecting wealth, minimising disputes, and ensuring assets pass to the right people in the right way.
This article explains what makes a Will “complex”, why careful planning is essential, and how the right legal advice can help safeguard your legacy.
A complex Will or estate plan goes beyond dividing assets between beneficiaries. It is typically required where a person has one or more business, company or partnership interest, family trust, unit trust or discretionary trust, superannuation arrangement, significant property portfolio, asset held jointly or across different entities, blended family arrangements, or an international asset or beneficiary.
In these situations, assets may not be owned by the Will maker, meaning they do not automatically form part of your estate. Without careful planning, this can lead to unintended outcomes.
For business owners, estate planning is not just about personal wealth. It is also about business continuity and control. A poorly structured Will can result in business paralysis after death, disputes between surviving directors, shareholders or family members, loss of control over trusts or companies, forced sale of business assets, and tax inefficiencies.
A well-drafted complex Will and estate plan works alongside shareholder agreements, trust deeds, company constitutions, buy–sell agreements, and powers of attorney. This ensures your business can continue operating smoothly and in line with your wishes.
Trust assets are not owned personally, so they do not automatically pass under your Will in the usual way. However, a Will can appoint who controls a trust after death, deal with unpaid entitlements or loans owed to or from trusts, and work in tandem with trust deeds to ensure control stays within the intended family line. If your Will and trust documentation are not aligned, the result can be loss of control, even if beneficiaries are technically provided for.
A properly structured complex Will can appoint successors to key control roles, address unpaid trust entitlements or loans, and align with trust deeds to preserve control within the intended family line.
Superannuation is one of the most commonly misunderstood areas of estate planning, as Super does not automatically form part of your estate.
Without the right planning, super may be paid to unintended beneficiaries, trustees may have discretion you did not intend, and tax consequences may arise for beneficiaries.
Complex succession planning often incorporates binding death benefit nominations, SMSF trustee succession planning, and testamentary trusts to manage tax and asset protection outcomes.
Many complex Wills include testamentary trusts, which are trusts created under a Will.
They can offer asset protection for beneficiaries, tax flexibility particularly for families with children, protection from relationship breakdowns, and control over how and when beneficiaries receive assets.
For business owners and high-net-worth families, testamentary trusts are often essential rather than optional.
A Sunshine Coast business owner held assets through a family trust, owned multiple properties personally, and operated a company with adult children involved in the business.
Without careful planning, the estate risked disputes between children involved in the business and those who were not.
By implementing a complex Will that included testamentary trusts, aligned with trust deeds, and addressed business succession separately from asset distribution, the client ensured business control passed smoothly, all children were treated fairly, assets were protected for future generations, and disputes were avoided.
Common issues include using a one-size-fits-all Will, failing to update Wills after business or trust changes, assuming trusts or superannuation are covered by a Will, appointing inappropriate executors or controllers, and overlooking tax and asset protection implications.
These mistakes can be costly and emotionally draining for families left behind.
At Argon Law, we work closely with business owners, professionals, and high-net-worth families to create tailored estate planning solutions.
This includes preparing tailored and technically robust complex Wills designed to work seamlessly with your broader legal, financial and business structures, giving you confidence that what you have built is protected.
Argon Law’s succession lawyers help clients address binding death benefit nominations, SMSF trustee succession, control of SMSFs after death, and tax-effective distribution of superannuation benefits. This planning is often integrated with testamentary trusts for asset protection and tax flexibility.
We take the time to understand your asset structures, business interests, family dynamics, and long-term goals. Our approach ensures your Will works seamlessly with your broader legal and financial framework, giving you confidence that your legacy is protected.
Our team of complex Will solicitors will work with you to ensure that your estate is distributed in accordance with your wishes and that the most vulnerable amongst your loved ones are properly looked after using testamentary trusts and other special provisions.
Contact Argon Law to speak with our experienced complex Will experts on the Sunshine Coast and ensure your Will reflects your wishes and protects what you have worked hard to build.
A. A Will or estate plan is considered complex when it accounts for multiple asset structures such as trusts, companies, SMSFs, or significant property holdings, or where succession planning is required.
A. No. Trust assets are not personally owned. However, your complex Will can deal with control of trusts and related entitlements if structured correctly.
A. Not automatically. Superannuation requires separate planning, including binding nominations and SMSF succession arrangements.
A. Yes. Clear, well-drafted Wills that align with business and trust documents significantly reduce the risk of family and commercial disputes.
A. Yes. Changes to companies, trusts, or superannuation arrangements should trigger a review of your Will.
A. Complex Wills require more detailed planning, but the cost is often far less than the expense of disputes, litigation, or tax inefficiencies that arise later.
Copyright © - 2026. Argon Law. All rights reserved.
Privacy Policy
