You may not need to hire a solicitor for every business decision or financial transaction you make, but there are times when it's good to get their advice before signing certain paperwork or making decisions that will affect you long-term. If you've never thought about hiring a solicitor for yourself, note a few times when it can be needed in order to protect you financially and otherwise.
1. When conveying property
Whether you're the buyer or seller, you want to consider discussing the transaction with a solicitor before you go through with the conveyancing process. A solicitor can ensure that the property's ownership paperwork is in order and you can legally sell the property or buy it from the person selling it; they can also ensure it is without liens or other debts that you might incur as the new owner. A solicitor can also ensure you understand all parts of the buying process, including how a deposit is applied and under what circumstances it can or should be returned and the rights you have if a building should fail any inspections.
While a real estate agent or conveyancer can help with many steps in the conveyancing process, remember that they cannot give legal advice. If the building or home in question is in need of certain repairs, a solicitor may be able to advise on how to note this in the selling agreement so you are not sued at a later date and how to bring the building up to code if you're the buyer and looking to move in tenants or other occupants.
2. When writing a will or doing estate planning
Never assume that you can simply write up a will, word it the way you want and it will simply be accepted by courts after you've passed away. Certain parties such as creditors, your spouse, or minor children may have legal claim to your estate, and if the will is not worded properly, this can cause confusion and arguments that drag it through probate court.
A solicitor can not only advise you on the best way to word your will so that your wishes are considered and so that you don't try to ignore any applicable laws, but they can also advise you on how to protect your estate. They may recommend certain trusts be set up or other arrangements that can lower the tax bill your heirs might face or otherwise protect them after you've passed away.
In these cases, it is beneficial to contact a professional solicitor, such as those at Young And Muggleton.
Share3 September 2015
My name is Jeanette Kennan. I have been a high school legal studies teacher for many years. As such, I am fascinated by legal cases I come across in the media. Family and friends often consult me about minor matters related to the law and although no expert, I can often point them in the right direction. It occurred to me that there may be other people out there who are not aware of basic legal issues. After all, you probably don't think about legal matters related to death, accidents or crimes until you find yourself in a crisis situation. This blog is designed to give you some introductory information about a range of legal topics. Hopefully, it will help you to be prepared and informed should a legal concern arise. I really appreciate you breaking in to my humble little site. Please enjoy.