Solicitors in Lincoln, Dale & Co.

Family Law & Divorce Solicitors in Lincoln

Conveyancing Solicitors in Lincoln

Wills and Probate

Business Solicitors

The Transfer Deed

To change the names on deeds to a property a Solicitor will firstly obtain the deeds or Official copies from the Land Registry and will then begin to prepare the Transfer Deed. They will notify any third parties and assess if stamp duty is payable (some Transfers of Equity are exempt from Stamp Duty, for example if the transfer is the result of a court order). A Stamp Duty Land Tax (SDLT) form will be completed and submitted to H M Revenue & Customs and identity checks undertaken. The Transfer Deed will be signed by all parties in front of witnesses.

If transferring at market value, the transfer deed will show the price paid for the share in the property. If your transfer is a ‘transaction at an undervalue (transferring for free or at a discount on market price), for example as a family gift, between companies or to avoid losing the property through debt or insolvency, you will also need to sign a Declaration of Solvency. If the person who transfers the property becomes bankrupt within a number of years of the transfer, the law can undo it in order to protect any creditors and the property can be sold off by the Official Receiver to cover debts. You may also need insolvency insurance to cover mortgage payments; your Solicitor can arrange this for you.

Spot the difference - Will Writer or Solicitor?

You don't need a Solicitor to write a Will, but as they are qualified to write Wills, using a Solicitor can give real advantages and peace of mind.

Richard Dale, of Dale and Co. Solicitors in Lincoln, said 'your Will is an important document and it is important to be confident that it clearly sets out your wishes, is enforceable and is thorough.

By using a qualified Solicitor to prepare your Will, you make sure that you are getting professional, quality advice. The consequences of having a badly prepared Will can be extensive. You may end up paying a lot more, the advice given may not be in your best legal interests or your Will may not clearly set out your wishes - or could even be invalid - leaving your family with an expensive muddle to sort out at an already difficult time.'

It can be very tempting to use Will Writing services - which often advertise very low fees and home visits, but check your options carefully. Recent research has stated that 67% of people believe that Will writers are all Solicitors - this is incorrect and it is important to know the difference.

'Make sure that you check the credentials of the person writing your Will, and what is included in the price. It is also vital that you make sure that whoever makes your Will is properly insured - to guarantee their work' said Mr. Dale.

Will writers charge hidden fees, and as you do not need qualifications to work as a Will writer, the completed Will may not be of the best quality. Solicitors are regulated and so their charges are likely to be less. They may also be able to store your Will for free. Dale and Co. Solicitors offer this service and will also send you Will reminders to make sure that your Will is always correct and up to date. All Solicitors will hold the necessary insurance, but as Will Writers are unregulated, they may not have this in place.

If you use a firm of Solicitors, you may deal with a qualified Legal Executive (who will use the initials F.Inst.L.Ex after their name). Legal Executives will provide you with the same benefits of using a Solicitor. They will be supervised by a Solicitor and, as part of a firm, will have access to a breadth of legal specialists that a Will writer will not.

If you have used a Will writer for your existing Will and are not confident of their qualifications, you can ask your Solicitors to check the document for you.

Dale and Co. Solicitors Lincoln are happy to check your Will for errors or omissions and will make sure that your Will clearly sets out your wishes.