For most people when drafting a will there is the obvious desire to control the allocation of their assets after their demise - hence the need for a will in the first place.
However, it is possible to be too controlling in a will and to create a legacy that is inflexible, unrealistic and frustrating for your heirs.
According to David Knott of Private Client Trust, the fiduciary services division of Private Client Holdings, testators are often inclined to have definite ideas as to what should happen to their hard earned estate after they have passed away, and the will would therefore be constructed in very precise terms dealing with each of the major assets, spelling out how and when this is to be disposed of, or retained for future generations.
Knott said, "The education and career paths of children would be decreed, along with where and what they are to study and at what stages of life should capital be released to them from trusts. A parent is often hesitant to let a child have access to capital too early in life, as he or she might have struggled financially and feels that the child could squander or become lazy if capital comes too easily".
"All these inclinations are sound in logic, as the parent is only wishing for the best for his or her family, but we cannot predict the future and the ‘rule from the grave’ instructions cannot anticipate how circumstances will change after the death of the testator," explained Knott.