We are pleased to announce that we have been accredited to the Law Society's Conveyancing Quality Scheme. We are one of the first practices in Herefordshire to achieve this. The purpose of this scheme is to ensure that the highest standards of client care and practice management are adhered to within the residential conveyancing market. In order to achieve membership, our firm's excellent standards have been recognised throughout a period of in-depth assessment. This award is in addition to the Lexcel Practice Management Standard which we have held since 2004 and further confirms our commitment to quality.
Staff
After 35 years with the firm, Richard Brooks has retired from the practice. During his time Richard broadened the range of services offered, and took the initiative in developing the use of modern technology by the firm. We all wish Richard well on his retirement. Congratulations to Linda Beddoes who has become associate member of the firm.
Jemma Price has started her maternity leave in August and Emma Gummery is due to start hers in early October. Law graduate Ruth Harris has accepted employment with us in September 2011 on a one year contract to assist mainly in the conveyancing department and we look forward to Ruth joining us.
Legal news
Lasting Powers of Attorney – personal welfare
We think there will be increasing demand for these powers, which first became available in October 2007. They are the only means by which individuals, who may not in the best of health, can nominate someone to have legal authority to represent their interests and wishes, when dealing with local and health authorities.
Wills – do we still have testamentary freedom?
A recent Court of Appeal decision appears to give children the right to a share of their parent’s estate.
In the case of Ilott v Mitson, Mrs Jackson left the bulk of her £486,000 estate to charity. She had been estranged for many years from her daughter, Mrs Ilott who had left home at the age of 17. Mrs Ilott lived on benefits, had five children and had made several attempts to be reconciled with her mother. Mrs Ilott was not financially dependant on her mother who had left a letter with her will explaining her decision not to include her daughter as beneficiary of her estate.
The Court of Appeal upheld the decision of the judge at the first hearing to award Mrs Ilott the sum of £50,000 to be paid from the estate. The legal profession is divided on whether this case marks a significant change in the law. However, will-makers intending to disinherit a child wholly or in part need to recognize the greater risk of their will being challenged in court in circumstances similar to those in the Ilott case.
Stamp Duty Land Tax
First-time buyers continue to enjoy exemption from SDLT on purchases of residential property made on or before 24th March 2012 where the total price does not exceed £250,000. A new rate of 5% for residential properties purchased for more than £1m applies from 6th April 2011. The Finance Act 2011 contains a new relief for buyers of residential property who acquire interests in more than one dwelling.
Following the budget on 22nd June 2010, several changes have been made in relation to capital gains tax, VAT and Stamp duty .
VAT
The rate of VAT will rise from 17.5% to 20% from 4th January 2010.
Capital gains tax
The rate of capital gains tax payable is now 28% for higher rate taxpayers. The rate of 18% will remain for those lower and middle income earners. However there is a tax free allowance on the first £10,100 of any gain.
Stamp duty
For first time buyers only stamp duty will still be charged at 0% on properties worth up to £250,000. To qualify for this exemption, the buyer must never have owned any property or land.
Cohabitation
A recent case heard by the court of appeal has reaffirmed the need for couples who live together but are not married to make their intentions clear at the beginning and especially when purchasing a property.
The couple purchased a house in their joint names and held the property in equal shares. Unfortunately the relationship ended and the man moved out, buying another property in his sole name. The lady stayed at the property, with the couple’s children and took over responsibility for all outgoings.
After twelve years, the man issued proceedings to claim his half share of the property. In the first instance the judge changed the couple’s shares of the property to 90% to the lady and 10% to the man. The justification for this was that since the separation, the lady had taken over all expenditure including the mortgage.
However when the case was appealed court decided that there was no evidence to change the presumption of equal shares and the man was entitled to a half share in the property.
Not only does this case show the importance of entering into an agreement determining a couples’ shares in a property (especially if the contributions in relation to purchasing are not equal), but also considering a living together agreement to clarify the couples’ intentions should the relationship break down.
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At the outset we will tell you about costs and approximate time scales. Moving house can be a daunting business; we continually upgrade and improve our standards of service so that each transaction can go through as quickly and as smoothly as possible. More...
