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Are you paying unnecessary Stamp Duty? 2/4/2012

Mon, 02 Apr 2012 11:30:32 GMT

Yes, the increased 0% threshold for paying Stamp Duty for first time buyers has now ceased to exist following the latest budget, however there is still a crumb of comfort available for buyers with a little known area of relief known as Disadvantaged Area Relief [‘DAR’].

Currently the stamp duty rate of 1% applies to all properties purchased over £125,000 and up to £250,000, however DAR is available for purchasers of any residential property in certain areas with a purchase price of up to £150,000. If DAR is available then it could save you up to £1,500 in stamp duty fees as it extends the exemption level for stamp duty to £150,000 for properties situated in a qualifying area.

In addition, unlike the relief that was previously available, DAR applies equally to any purchaser whether a first time buyer or not.

This relief can prove crucial for buyers in being able to put forward offers and indeed in proceeding through to completion on a number of houses in the local area. It is possible to perform a postcode check on the HMRC website to see if the property that you are interested in buying does qualify for DAR by clicking the following link.

(http://www.hmrc.gov.uk/so/dar/dar-search.htm)

Currently the main wards in the local area which qualify for DAR are:

Stoke-on-Trent – Abbey, Berryhill, Brookhouse, Blurton, Burslem Central, Burslem Grange, Chell, Fenton Green, Great Fenton, Longton South, Meir Park, Norton Bradeley, Shelton and Tunstall North

Staffordshire Moorlands – Biddulph East

Newcastle-under-Lyme – Cross Heath, Holditch and Silverdale

For expert conveyancing advice, please contact David Hallen at the Leek office on 01538 383201 or alternatively Lee Pointon in Cheadle on 01538 754253.

Pitfalls of DIY Law - Probate 16/3/12

Fri, 16 Mar 2012 10:30:03 GMT

With the huge increase in access to the internet and the wealth of information that can be found on it, more and more people are being tempted to try and deal with the administration of estates themselves.

Whilst in some cases the process can undoubtedly be quite straightforward, there are many pitfalls awaiting the unwary and inexperienced.

· Most banks and building societies will allow an Executor named in a Will or the next of kin of the deceased to close accounts containing relatively small amounts of money by signing a form of indemnity. However, Executors and Administrators should be aware that it is the value of the TOTAL estate and not the components of it that determine whether a Grant is required. Closing several smaller accounts may result in a breach of the required procedure.
· Even if there is only a small amount of cash, Probate will be required before there can be any transfer of land or property.
· Stocks and shares and many insurance policies cannot be dealt with without a Grant.
· If there is no Will there are statutory rules on who inherits the deceased’s estate and in what order.
· If there is no Will and the estate is worth more than a stipulated amount known as the statutory legacy then the whole estate will NOT necessarily pass to the spouse. If there are surviving children the spouse will only inherit the first £250,000 outright. Any amount above that is divided as to 50% to the children and 50% to be held on trust for the lifetime of the surviving spouse. Even if there are no children but the deceased is survived by parents, siblings or the children of siblings, then the total estate will still not pass to the surviving spouse, although the statutory legacy is higher. There are specific rules governing this of which the executors must be aware.
· An Inland Revenue account will need to be submitted with the application for a Grant. The Executors or Administrators must therefore be satisfied they understand the rules regarding gifts made by the deceased during their lifetime, gifts with reservation and pre-owned assets.
· All Beneficiaries of the residue of the estate (i.e. what is left after payment of all debts and specific legacies) are entitled to detailed estate accounts for approval.
· If the Executors and Administrators distribute the estate incorrectly or to the wrong people, or without discharging liabilities (even if they were not aware of them) they are personally liable if the situation cannot be rectified.
· There is no obligation on the Executors to instruct the solicitors who prepared the will to administer the estate. If they are inconveniently located or there are other reasons the executors would prefer to instruct another firm they are at liberty to instruct solicitors of their choice.
· If you choose to administer the estate in person then the Executors or Administrators will have to personally attend an interview at the Probate Registry of the High Court. If solicitors are acting on your behalf then that interview is not necessary.

Here at A.H Brooks & Co, our experienced Probate Team will guide you through the whole procedure in a friendly , sympathetic and easily understood manner. The matter will be dealt with by a qualified probate practitioner from start to finish. Our costs are payable from the estate.

gillharrison@ahbrooks.co.uk

Change to Stamp Duty for First Time Buyers 27/2/12

Mon, 27 Feb 2012 09:49:13 GMT

The Stamp Duty threshold of £250,000.00 for first time buyers ends on the 24th March 2012 after which Stamp Duty will be payable by all purchasers including first time buyers if the purchase price is over £125,000.00.

Subject to mortgage funds being in place and there being a relatively easy chain it is possible, still, for first time buyers to make an offer now and complete their purchase by the 24th March.

Despite the financial incentive for first time buyers to buy to get onto the property market now, Greta Williamson a Partner in A.H. Brooks & Co., would urge against anybody rushing into buying a property particularly with a partner without having first taken the opportunity of considering the pros and cons of doing so beforehand.

As an experienced family and domestic conveyancing lawyer Greta Williamson frequently sees the consequences of young couples who, eager to leave home, have purchased a property and over committed themselves financially. By the very nature of being a first time buyer it’s the first time that most people have had the responsibility of not only finding money to pay for a mortgage but also funding the utility bills and repairs and maintenance costs associated with a property. Having lived at home previously most people have the security of their parents to fall back on.

In addition to the financial pressure there is also the emotional and physical adjustment of living with someone. Greta Williamson says that it takes time for couples to settle down into a routine and for couples to decide who is going to do what within the relationship.

All too often I see, as a family lawyer, the consequences of a relationship breakdown particularly with very young couples who have only been living together for less than 2 years. Whilst understandably they have been excited and enthused about the prospect of purchasing and running their own home, the reality sometimes places too much strain upon a relationship and it sadly ends in separation.

One would hope that at the point of separation it would be easy for the parties to determine how the joint assets should be divided but, sadly, this is not always the case. When any un-married couple purchase a property the title deeds should clearly specify how the equity is to be held. There are various options available to the parties whether it be equally, shared on the basis of unequal shares say 60-40, 70-30, or as specific as to their initial contributions towards the property.

It is so easy to record the intention of the parties something that should be done as a matter of good practice by all conveyancing Solicitors. If everybody understood the principles of beneficial ownership then a lot of problems upon separation could be eliminated. Having the right advice therefore at the time of the purchase for young couples is particularly important. If everything is sorted out from the beginning in the event that a separation does take place it should be at minimal legal cost to the parties.

A.H. Brooks & Co., is one of only a handful of firms in Staffordshire to be awarded the Conveyancing Quality Scheme kitemark issued by the Law Society. In addition, A.H. Brooks & Co., has the Lexcel Accreditation and covers all aspect of legal practice from residential through to commercial conveyancing, family and relationship breakdown, personal injury, medical negligence and Wills and Probate matters.

For a fixed fee appointment relating to family matters please call Greta Williamson on 01538 754253 or 01538 383201 and for conveyancing matters call Lee Pointon on 01538 754253.

gretawilliamson@ahbrooks.co.uk leepointon@ahbrooks.co.uk

Had an Accident? You have a choice 06/02/12

Mon, 06 Feb 2012 11:27:36 GMT

It is a common myth that if you are involved in a road traffic accident, or indeed any other form of accident, where you sustain personal injury that you have to utilise the firm of solicitors that is recommended by your insurance company. This is NOT the case.

Ordinarily when an accident takes place it will not take long for your insurance company to contact their panel solicitor and in turn for them to be in contact with you.

Often the solicitor will be based far away from your home address, perhaps in Bristol, London or Newcastle. This would make face-to-face contact almost impossible and you may also find that you are not able to get in contact with the solicitor who represents you by telephone or email.

In addition the solicitor is likely to have paid your insurance company to take on your claim, often leaving them with very little resources to achieve the best possible outcome for you.

It is however possible to say ‘no’ to the solicitor who calls you and advise your insurance company that you would like to instruct your own local solicitor. You may be informed that the costs of doing so would not be covered under your insurance policy with them. In fact A H Brooks & Co can offer to take on your valid claim under the terms of a ‘No Win-No Fee’ agreement where there is nomally no cost to yourself.

In addition if your claim does not settle at an early stage and Court action becomes necessary, then your insurance company would not be able to refuse to cover your legal fees at that stage.

A H Brooks & Co can offer a wealth of experience in personal injury claim and pride ourselves on giving a top quality, face-to-face service to our clients. If you have been involved in a road traffic accident, consider saying ‘no’ to the solicitor who is based 100’s of miles from your home and visit your local personal injury specialist at A H Brooks & Co on the High Street in Cheadle and on the corner of Derby Street/Bath Street in Leek.

If you require further advice and assistance please contact either Simon Chiverton simonchiverton@ahbrooks.co.uk or Lee Pointon leepointon@ahbrooks.co.uk

Abestos and the Law 05/01/12

Thu, 05 Jan 2012 10:05:16 GMT

ASBESTOS AND THE LAW

Asbestos has long been dubbed “The Hidden Killer” because of the fact that its effects are usually only felt many years after the initial exposure. Asbestos particles may lie dormant within the body for many years. It is unknown how many people may yet develop symptoms. Those most at risk are people who work at all levels of building industry, including self employed tradesman who may still come across asbestos in their working lives. It is also unknown how much dangerous asbestos is still in existence in buildings before its use was banned. It follows that there is still a risk when undertaking repair or renovation works, especially in older buildings. It is essential that those at risk have the necessary protective equipment in place and a good starting point for advice is to log on to the HSE website which can be found at http://www.hse.gov.uk/asbestos/.

The problem with asbestos exposure is that it can take many years for symptoms to become apparent and can take up to 40 years for the first signs of disease to show. Symptoms can range from mild breathing discomfort to potentially life threatening conditions. Often treatment may be able to alleviate symptoms and prompt medical advice should be sought.

The legal implications of asbestos disease are far ranging. In the more serious cases those affected are often unable to work, causing financial hardship. In many cases the disease relates to exposure many years ago, but it is still possible to bring a claim for compensation even after many decades have passed. It is crucial to seek legal advice as soon as a diagnosis of asbestos disease is made or indeed suspected as it is usually only possible to bring the claim within 3 years of the date when symptoms began. Where symptoms are severe, substantial awards of compensation can help to offset loss of income and safeguard family and dependants.

The message is clear -: Adequate protection is still needed to safeguard against injury even though asbestos is no longer used in the building industry. Seek advice about protective equipment if this potentially affects you or your workers. You must comply with stringent government regulations.

For those with suspected or confirmed disease the advice is also clear :- See a solicitor without delay as you may be entitled to compensation.

Conveyancing Quality Scheme 22/12/11

Wed, 21 Dec 2011 14:24:21 GMT

AH BROOKS & CO secures Law Society's new quality mark

AH Brooks & Co with offices in Leek and Cheadle has secured membership to the Law Society's Conveyancing Quality Scheme - the mark of excellence for the home buying process.

AH Brooks & Co underwent rigorous assessment by the Law Society in order to secure CQS status, which marks the firm out as meeting high standards in the residential conveyancing process.

Law Society President John Wotton said that the Law Society introduced CQS to promote high standards in the home buying process.

“CQS improves efficiency with common, consistent standards and service levels and enables consumers to recognise practices that provide a quality residential conveyancing service.

"Buying a home is one of the largest purchases anyone will make in their lifetime, so it is essential that it is done to the highest standard by a solicitor. There are many different conveyancing service providers out there, making it difficult for home buyers to identify those which can ensure a safe and efficient level of service.”

Greta Williamson says: "AH Brooks & Co is delighted to have secured CQS status. It is recognition of the high standards we provide to our residential property clients and is a signal to future home buyers of the excellent service level we provide at what is often a stressful time for many people.

“The overall beneficiaries will be clients who use AH Brooks & Co when buying a home. They will receive a reliable, efficient service as recognised by the CQS standard."

The scheme requires practices to undergo a strict assessment, compulsory training, self reporting, random audits and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders, the Building Societies Association, Legal Ombudsman and the Association of British Insurers.

In addition to being one of the first practises in the area to secure this quality mark AH Brooks & Co have had cause for a double celebration. Having been awarded the Lexcel Practice Management standard in 2010 AH Brooks & Co were delighted to have been re-accredited following their annual inspection.

Greta Williamson says “Not only were we delighted with the CQS award but to have our status, as one of the few firms in the County awarded the prestigious Lexcel award, reaffirmed was tremendous news and confirmation of all our hardwork in assuring our clients receive a top quality service. As a firm AH Brooks & Co is dedicated to ensuring that clients receive a first class service and it is extremely satisfying to have our quality service accredited by the Law Society”

Pitfalls of Online Divorce 02/11/11

Wed, 12 Oct 2011 12:55:54 GMT

Today we do all sorts of things online; shopping, booking holidays, gambling, and a whole host of other things. It has now reached the point where people are also trying to do their own divorces online, or at least using the forms that are available from websites. The motivation for doing this is usually the assumption that it will save legal costs. However, there are a number of problems and pitfalls which anyone needs to keep in mind when contemplating this course of action. The main problems can be summarised as follows:-

(1) The divorce itself is usually quite a straightforward procedure, but this is often because solicitors for both parties have agreed beforehand how it will be handled so there are no nasty surprises. Furthermore, the divorce papers need to be exactly accurate, or they will be rejected by the courts.

(2) Divorce often raises disputes between the parties concerning the arrangements for the children. These cannot be resolved online.

(3) Divorce also often raises problems and disputes concerning property and money. Contrary to popular belief, the pronouncement of the Decree Absolute does not dismiss the financial claims. Additional court documentation and advice is needed on the very important issue, which is generally overlooked in the packaged online divorce.

(4) Even prior to divorce, separation can raise important issues such as taxation, inheritance and the preparation of new wills. These often need to be addressed before divorce proceedings have started.

Divorce and the matters arising often raise important long-term legal issues. These can usually be resolved with proper professional advice, with agreements recorded correctly. However, if this is not done, it will inevitably mean that larger problems arise in the future. Most solicitors who deal with divorce and other family cases are members of 'Resolution' which aims to resolve disputes by agreement through negotiation, rather than through confrontation and litigation. The best thing that a person can do who is considering separation or divorce is to seek proper independent legal advice at an early stage.

First Time Buyer? 07/12/11

Wed, 07 Dec 2011 11:17:13 GMT

FIRST TIME BUYERS – first foot on the property ladder and, possibly, your first experience of a Solicitors Office. At AH Brooks & Co we appreciate that buying your first house, whilst being one of the most exciting times of your life, can for some be extremely daunting.

You have found the right house and, by using AH Brooks & Co, you have found the right solicitor. We have friendly and experienced staff who are always available to give you advice and reassurance about your purchase.

AH Brooks & Co can support you by providing reassuring guidance throughout the purchase. We provide a friendly service where your needs are paramount. Our staff will guide you through the process with explanations on all aspects of the purchase from understanding the legal documentation to finding out what day the bins are collected!

No matter what your query relating to your purchase if it is important to you then it is of equal importance to us. Whilst we have handled thousands of house purchases we realise that this is a new experience for you and we take every effort to ensure that your purchase runs smoothly and you are kept up to date with timescales and costs.

As a first time buyer the Government has made a concession in that they will not charge for Stamp Duty on any purchase of a property valued at less than £250,000. As Stamp Duty is normally charged at 1% of the purchase price on properties between £125,000 and £250,000 if you are buying in this price range that is a substantial saving.

However, this concession will end on the 24th March 2012 so now is a good time to buy.

At AH Brooks & Co we will provide you with a full costs estimate relating to your purchase so there will be no nasty surprises and you can assess the full cost of your purchase at the outset.

If you are considering purchasing your first property then please give us a ring for a no obligation quotation and advice.