Making a cake and making a Will are more similar than you think. They both require a suitable recipe for success, be it a simple Victoria sponge or a simple Will. The more complex recipes involve more detailed planning and often involve numerous ingredients. However, following the recipe will result in success.
The five stages required are as follows:
This is the most important part of making your cake because without all of the ingredients the cake will fail.
Similarly preparing to make a Will requires taking instructions from your client and without clear and precise information the Will may fail or may even be contested.
Weighing out your ingredients:
Precise measurements for your cake will ensure a perfect mix. Too much egg will make the mixture sloppy; too much sugar makes the cake too sweet.
Measuring the assets of a client determines the type of Will to make which also requires precision. You need to evaluate the size of the estate, is it over the IHT threshold, will they need a tax efficient Wills; is it more complex, is it a simple Will, how can we ensure the children will not be left with a hefty inheritance tax bill, if my partner goes into care will I have to sell the house to pay for the fees, will there be anyone to look after my children? Will there be anything left!?
To make our cake we start by creaming together the butter and sugar until soft and creamy.
In the Will the butter represents the softness of the beneficiaries, the loved ones you want to leave your money to, with the assurance that they are well cared for after you have gone. The sugar is the sweetness in leaving gifts to charities and legacies to friends and family who have helped you in your life.
Whisk the eggs; add a little at a time to the butter/sugar mix stirring between each addition. Stir until light and fluffy.
The eggs in our Will are the executors, the people you chose to administer your estate when you die. They need to be trust worthy and honest (no rotten eggs) and fulfil your requests to the best of their ability…to bind everything together just as the eggs do in the cake mix.
Add the flour a little at a time and fold gently into the mixture careful not to over mix. Divide the mixture evenly into two sandwich tins and put into the oven.
The legal clauses in a Will are like the flour in the cake. They are needed to ensure the Will is mixed and folded correctly and that they cover all aspects to ensure the Will works and everything is divided according to the Will.
The cake is cooked in a pre-heated oven until risen, firm to the touch and golden brown.
Making the Will takes a little bit longer depending on the complexities involved. From taking instructions to signing the fair copy can take between two to four weeks. Although the time difference if quite vast the same outcome is achieved, a perfectly prepared and cooked Will.
Sandwich the cakes together with jam/cream then dust the top with castor sugar. Stand back and admire then serve and enjoy.
Your Will has been prepared and is now ready for signing. Once signed and signature witnessed there is a satisfaction in knowing that when you die your wishes will hopefully be fulfilled, your loved ones are provided for and the tax man won’t get his hands on your money…well not without a fight. So stand back, admire and enjoy!