Solicitors perform an instrumental function in our society, in a variety of fields. Legal compliance can be a tricky thing, even for unassuming tasks; without retaining a professional solicitor to carry out important legal tasks, you could find yourself on the other side of the table, opened up to the possibility of professional negligence solicitor claims against you. To help you avoid unintended repercussions, the following situations are those for which a solicitor is of crucial importance.
Buying or Selling a Home
The most common reason for requiring a solicitor’s services is the buying or selling of a home. There are numerous processes that make up a property transaction, and a solicitor specializing in property is key to interpreting and carrying them out. For one, the sale or purchase of a home requires the drawing up of a contract to ensure an airtight sale. Solicitors can also handle the documentation regarding property valuation and surveyance, and update the land registry on your behalf in the event of a purchase. They are also responsible for liaising with your mortgage provider and handling the transaction on your behalf.
Starting a Business
A solicitor is indispensable in the starting up of a new business venture. Becoming a sole trader is as easy as registering with HMRC, but starting a larger company (whether a limited company, non-profit, or community interest corporation) and handling investments from third-party sources can be much more complicated. Hiring a solicitor can not only advise you with regard to setting up your business but can also help you navigate the initial legal hurdles with certain registrations – for example, if your business will be a non-profit or a charity.
Ending a Marriage
In the unfortunate event that you are due to go through a divorce, retaining a solicitor is not a legal requirement. However, they can be hugely helpful in guiding you through the process, and nothing short of necessary in a more acrimonious split involving the distribution of shared assets and childcare. Solicitors handle all of the legal processes and keep you abreast of the timeline, and can also offer advice regarding decisions you may want to make.
Executing a Will
If you have been named as an executor in the will of a family member or loved one, a burden of responsibility is placed on you in the event of their death. Your role would be to administrate their estate, including any taxes owed on that estate and where assets and belongings are distributed. A professional probate solicitor can help you manage the load, performing the less intuitive legal requirements on your behalf and advising you on how best to handle the estate. Such advice might include the most cost-effective ways to distribute wealth without incurring excessive fees and taxes.