I intend on doing a feature-length film partially inspired by Much Ado About Nothing (by partially inspired, I mean indirectly taking certain plot elements- Think of The Lion King and Hamlet) and I want to know if there would be any copyright issues I'd need to take care of.

You definitely should be alright...ideas and themes or even specific plots are not subject to copyright laws. It is the specific delivery style/method that you can get in trouble for stealing. Besides, I think Shakespeare's plays have been public domain for quite a long time.

Shakespeare died in 1616. I heard it’s something like 70 years after someone died before the copyright is lifted. That happened a long time ago so you could actually do anything with his stories; even make a film with exactly the same words without paying anyone any royalties.

Thanks all! I was starting to get concerned with getting bogged down in legal rights and whatnot.

Yeah, Shakespeares stuff is completely up for grabs. I have often thought about making one of his plays into a film, though I'm not sure which one I'd like to do best.

Funny, I'd never made that connection with the Lion King before.

Good luck with the adaptation, L.A.F.