task: Write a report

After his death a testator left the following will.

LAST WILL AND TESTAMENT

1 THIS WILL is made by meMaxwell Albert Stevens (who was born at Katherine in the Northern Territory of Australia on 30 March 1961) of 18 Cullen Bay Crescent LARRAKEYAH in the Northern Territory of Australia, foundry proprietor which I make in the following manner.

2 I HEREBY REVOKE all former Wills and testamentary dispositions heretofore made by meAND DECLARE this to be my last Will and testament.

3 I APPOINT Arafura Guardians and Trustees Limited (ACN 101 237 983) to be my Executor AND WHERE in this my will I use the expression "my Trustee" that expression shall also be taken to refer my said Executor.

4 I DIRECT MY TRUSTEE to sell, call in, and convert into money such sufficient part of the whole of my real and personal property (that does not then consist of money at the date of my death) as may be necessary to enable my Trustee to pay all of my just debts, funeral and testamentary expenses, and any succession estate or other death duties which may become payable in respect of my estate out of my estate (if possible in a manner which shall not require any adjustment or apportionment between any of the beneficiaries under this my will or any codicil hereto) and, subject to any specific bequest, legacy, devise or direction contained herein, to stand possessed of all remaining money, real and personal property that comprises my net estate on trust to be distributed in accordance with the following contents of this my will.

5. I GIVE DEVISE AND BEQUEATH to my Trustee:

5.1 .......[intentionally deleted as not relevant]......;

5.2 .......[intentionally deleted as not relevant]......;

5.3 .......[intentionally deleted as not relevant]......;

5.4 .......[intentionally deleted as not relevant]......;

5.5 .......[intentionally deleted as not relevant]......;

5.6 In trust forGordon Raymond Stevens, my favourite uncle and valued business colleague, any royalties that my company Stevens Systems Pty Ltd may earn if it is able to patent and license the in-door home laundry that we recently pioneered;

****End of Will****

There were other provisions in the will, but they are not significant for the purposes of this problem.

Ms Garamond, an officer of the executor company, has consulted the legal firm seeking advice on the administration of the estate. She informs the senior partner of the legal firm that there has been a patent application for the in-door home laundry but there is no answer as yet. She also says that the Patent Attorney has reported that it could take up to 2 years and there is no guarantee that the patent will be approved. Ms Garamond has also informed the legal firm that Stevens Systems Pty Ltd has good reason to believe that there will be strong competition for the right to make and sell the product under licence and therefore she expects that there will be a considerable volume of royalties. She has asked the senior partner what should be done to ensure that the Uncle gets the testator's royalties.

You have been asked by your team leader to provide a report that gives an analysis of the issues, and possible outcome, from the perspective of the law of trusts.