What is Commercial Property Law?

In the dynamic world of business, where every square foot can mean an opportunity, navigating the intricate landscape of commercial property requires expertise. Commercial property law, at its core, revolves around the acquisition, sale, leasing, and utilisation of land for commercial purposes, be it for development or investment. Merriman Solicitors, with a wealth of experience, stands as your reliable guide through the intricate maze of legal considerations in commercial property transactions.

Key Aspects of Commercial Property Law:

Commercial property law spans various transaction types, both short and long term, covering freehold property transactions, commercial leases, acquisitions, and development projects. It intricately intersects with planning, construction, and tax law. Our team at Merriman Solicitors is adept at handling a plethora of issues including:

● Leasing of commercial properties from the perspective of both landlords and tenants.

● Purchase, sale and management of investment properties.

● Development of both residential and commercial building projects.

● Financing of commercial property transactions and funding of building projects.

● Resolution of commercial property disputes through litigation, mediation, and arbitration.

Is it worth leasing or buying a commercial property?

Determining whether it is more advantageous for you to buy or lease will be a crucial decision in the development of your business or investment strategy. When it comes to commercial property, the stakes are typically high, meaning significant financial risks and more difficult decision-making processes.

You must consider both the present and the future when deciding whether to purchase a commercial property outright or whether to take on a tenancy. When business people decide to rent property, it’s usually because they are just getting started in the industry or the area, or because they don’t want to be tied down by property ownership due to financial constraints. Those who want to buy instead of renting, do so because they desire more control over the property’s usage (they can more readily

change its appearance, subject to planning clearances) and also because it’s typically a wise investment.

In the end, it comes down to your financial situation, your needs from the property, and your long-term goals.

How can our Solicitors help?

From acquisition to sale, investing in properties poses specific challenges that require a sophisticated legal strategy. Merriman Solicitors is skilled at handling these complications, guiding clients towards well-informed decisions that complement their financial goals. We carefully go over contracts, carry out due investigation, and bargain for advantageous conditions during the buying process. Our legal staff handle leasing agreements, compliance issues, and the nuances of management under ownership. When it’s time to sell, we maximise returns by facilitating smooth transfers.

Whether you’re an individual or an organisation dealing with commercial property, having a solicitor by your side is essential. Merriman Solicitors offers comprehensive legal support, tailored to the specific needs of diverse industries.

Our commercial property solicitors can assist in:

● Providing legal advice to buyers, sellers, landlords, or tenants in property acquisition or leasing matters.

● Offering guidance to property developers involved in new construction projects.

● Conducting thorough property research, including CPSEs, boundaries, disputes, planning permissions, local authority matters, easements, and more.

● Drafting, completing, and filing paperwork and documentation related to commercial property transactions.

● Facilitating negotiations for sale or lease contracts.

● Resolving disputes related to owned or prospective commercial properties.

● Offering conveyancing services for commercial properties, ensuring a seamless legal process in buying or selling.

How Merriman Solicitors Elevates Your Commercial Property Experience

At Merriman Solicitors, we pride ourselves on understanding the unique needs of our clients and serving areas in and around Marlborough & Wiltshire. With an unwavering commitment to protecting your interests, we bring years of experience to the table, ensuring that your commercial property journey is not just legally sound but also strategically advantageous.

Ready to embark on a journey where your commercial property transactions are handled with expertise and precision? Complete our online enquiry form or reach out to us at 01672 515846 or via email at law@tmp.uk.net

There may come a time when you are unable to make decisions independently or communicate them clearly. It’s a wise idea to think ahead and create a Power of Attorney now, since this will significantly streamline matters if or when that situation arises.

With a Power of Attorney (POA), you can designate one or more people as your “attorney” or “attorneys” to act on your behalf when making choices and decisions.

Merriman Solicitors have served the areas of Marlborough and Wiltshire for over 250 years, providing clear legal advice, including help and support with Lasting Powers of Attorney. We are Power of Attorney solicitors.

What is a lasting power of attorney (LPA)?

A Lasting Power of Attorney is a legal document that can be used to make decisions regarding your health and welfare and/or financial matters. The LPA gives your chosen Attorney(s) the power to make decisions on your behalf if you are unable to do so yourself, due to infirmity, mental or other incapacity, illness, or absence abroad.

The person making the LPA (known as the donor) never loses the power to make their own decisions; an LPA simply confers those same powers on the appointed attorneys. The main role of an attorney is to help the donor make their own decisions. It is only when the donor no longer has the capacity to take part in the decision-making process, can an attorney make decisions on the donor’s behalf without consent. This is clear from the Lasting Power of Attorney Guidance.

LPAs replaced Enduring Powers of Attorney in October 2007 following the introduction of the Mental Capacity Act 2005. However, existing Enduring Powers of Attorney remain valid. LPAs can only be made when a person, the donor, has mental capacity but they cannot be used before the LPA has been registered with the Office of the Public Guardian.  Lasting Power of Attorney fees of £82 are payable on registration with the Office of the Public Guardian and if 2 types of Lasting Power of Attorney are registered, the fee is payable on both documents.

What’s the Difference between Enduring and Lasting Powers of Attorney?

• Before October 1, 2007, the law provided for Enduring Powers of Attorney. EPAs created before this date remain legally valid, but only LPAs can be made after that date.
• Most LPAs are registered immediately following their creation, and once registered, they are ready for use even if at that stage they do not need to be used.
• EPAs are only registered when a donor loses mental capacity. This can be a lengthy and drawn-out process, often at a time when decisions need to be made. This is why many people choose to replace an old EPA with a new LPA.
• It is only possible to make a Lasting Power of Attorney for Health and Welfare after 1 October 2007. Earlier EPAs only related to finance and property.

What Are The Two Types of Lasting Power of Attorney?

Health and Welfare

A Health and Welfare LPA is a legal document that gives the attorneys authority to make decisions (that include your care, where you live, and where appropriate, who should visit) on your behalf, if you cannot make such decisions yourself.

It requires a donor to advise who they would like to make life sustaining treatment decisions on their behalf if the donor cannot do so. The donor’s choice is between delegating such powers to their attorneys to make as if they were the donor, or alternatively, to leave such decisions in the hands of the doctors who nevertheless are obliged to take account of the attorneys’ views. This is a personal decision of the donor, and neither is right or wrong.

Decisions that attorneys can make on your behalf in relation to health and welfare include:

• Decisions on medical treatment, including how, when, and where medical treatment should be given.
• Where you reside
• Who you should have contact with

Without a Health and Welfare LPA, social workers could be appointed by the court to make decisions in place of your preferred family members, which could result in delays and possibly court proceedings where there are disagreements.

Furthermore, the LPA also allows you to appoint one or more replacement attorneys in the event of the death of an attorney, or if an attorney is unable or unwilling to act.

Property and Financial Affairs 

If you struggle to fill out paperwork, use email, or have physical difficulties such as, going to the bank, an LPA may be very helpful in managing such tasks amongst other decisions that we all make on a daily basis. Even if the donor of an LPA loses capacity, a previously made and registered LPA will still exist.

Decisions that the attorney can make on your behalf in relation to property and finance include:

• Checking and Paying bills
• Dealing with their tax
• Dealing with the bank
• Dealing with investments
• Claiming benefits, pensions, and allowances
• Buying or Selling your home, and maintaining or repairing it
• Buying things that the donor may specifically need

Attorneys are bound by the Mental Capacity Act 2005 guiding principles, and the Lasting Power of Attorney Guidance under the Act. Decisions must always be made in the donor’s best interests, and attorneys must abide by the guiding principles of the Act. A Lasting Power of Attorney Guide is available to help attorneys. With LPAs in place, individuals can rest assured that their affairs will be handled with care and according to their wishes, as well as being subject to the scrutiny of the Office of the Public Guardian.

How much does Lasting Power of Attorney cost?

*Charge on a time basis with a guide of starting from £750

 How long does it take to make a Lasting Power of Attorney?

It need only take a few days to prepare an LPA for signature, but the time taken by the Office of the Public Guardian to register an LPA usually takes 3 to 4 months.

How can Merriman Solicitors help?

Our knowledgeable specialists at Merriman Solicitors will talk you through the procedure and offer specialised Lasting Power of Attorney guidance. Merriman Solicitors are Power of Attorney solicitors.

In addition to providing advice on safeguarding a person’s capacity to handle their affairs and make future plans, we are here to discuss any aspect of making a Lasting Power of Attorney. If you need legal advice about making a Lasting Power of attorney or any related matter don’t hesitate to contact any member of our team or fill out the contact form. 

Let us assist you in easing your worries about your estate and financial administration.

Residential Conveyancing Services

Buying or selling a home can be a stressful experience, and we understand the challenges involved. At Merriman Solicitors, we offer a friendly and expert service to guide you through the process seamlessly.

Our team of qualified solicitors, with extensive experience in conveyancing, is dedicated to providing you with assistance from start to finish. We specialise in various aspects of residential conveyancing, including:

• Sales and purchases
• Freehold and Leasehold
• Joint ownership advice
• Loan Agreements
• First registrations
• Probate and matrimonial transfer
• Enfranchisement and lease extensions

Having worked in Marlborough and Wiltshire for many years, we have a deep understanding of the local area and strong connections with local agents. In response to our clients’ needs, we have expanded our services to cover properties in London, making it an integral part of our work.  We can also assist with transactions throughout England and Wales.

Feel free to call us at 01672 515846 or contact us via email to discuss how we can assist you. In most cases, we can offer a fixed fee for our services.

Pricing for Residential Conveyancing:

Property transactions are unique, and our fees reflect the specific requirements of your sale or purchase. While we aim to provide a reliable estimate, the actual cost depends on the details of your intended transaction.

Fees Structure:

Typically, our fees, on a Fixed Fee basis, range from £1,000 – £2,000 plus VAT (£200-£400) for standard transactions.

Additional fees apply for leasehold properties £100 – £200 plus VAT (£20-£40).

Our fee for dealing with re-mortgages ranges from £350 – £475 plus VAT (£70-£95) with an additional £75 plus VAT (£15) for leasehold transactions.

Additional Expenses:

In addition to our fees, you will incur costs payable to third parties, known as ‘disbursements.’ Common disbursements include search fees, Stamp Duty Land Tax (paid to HMRC), Land Registry fees, and more. We handle disbursements on your behalf for a smoother process.

Duration of Transactions:

The time from offer acceptance to contract exchange varies based on factors like the property type and the number of parties in the chain. On average, a conveyance takes between 12-20 weeks.

Stages of the Process:

Our service encompasses various stages, such as:

• Taking instructions and giving initial advice
• Drafting or receiving and advising on contract documents
• Carrying out searches and obtaining planning documentation if required
• Raising or answering enquiries on title documents and searches
• Reporting on title and obtain mortgage offer (if appropriate)
• Obtaining authority to exchange and agree completion date
• Agreeing pre completion documents and obtaining pre-completion searches
• Providing a financial statement
• Completing the sale/purchase
• Dealing with the payment of Stamp Duty/Land Tax and application for registration at Land Registry

Quality Assurance:

As members of the Conveyancing Quality Scheme by the Law Society, we adhere to high standards, ensuring a professional and quality conveyancing service.

Please contact us by phone at 01672 515846, Email or Complete the online enquiry form to discuss your individual needs; we are here to assist you.

What is a trust? 

A trust is an arrangement whereby assets are placed in trust for the benefit of trust beneficiaries pursuant to  a legally binding agreement  governed by a trust deed or trust instrument. In most cases the basic reason for setting up a private trust is to provide for loved ones who because of their age, mental incapacity or other circumstances may not be able to properly look after assets themselves. 

In order to set up a trust, a person (called the Grantor or Settlor) transfers money or property to the nominated trustees who are then responsible for supervising, holding, managing or distributing the asset.

The Trustees then handle the money or property as directed by the Grantor for the benefit of certain people (called Beneficiaries). A trust is a separate legal body that can be created during a person’s lifetime or through a testamentary document such as a Will.

What are the different types of trust? 

Although trusts are typically thought of as belonging to the affluent, they are actually quite flexible and can be utilised to accomplish a variety of goals. 

Trusts can also be created for tax-planning reasons and asset protection. The most usual types of trusts which can be created are:

Bare Trust

This type of trust is not, strictly speaking, a trust at all. An asset is held in the names of trustees, but the trustees only nominally own the assets within the trust. The real owners are the beneficiaries. Such trusts arise commonly when children are entitled to assets but they are not old enough to have legal authority to deal with those assets.

Discretionary Trusts

The trustees of a discretionary trust own the trust assets having absolute discretion to administer and distribute the assets, and these powers apply  to both capital and income of the trust. 

The beneficiaries only have a mere ‘hope’ of receiving a benefit from the discretionary trust. The trustees are often guided by a separate non-binding letter of wishes created by the ‘Settlor’ of the Trust as to how they would like the trustees to exercise their discretion.

The Settlor can also be a trustee but for tax purposes should never benefit from the trust assets themselves in any way. The real advantage of this type of trust is in its flexibility allowing the trustees to take into account the changing needs of the beneficiaries and the tax legislation throughout the trust period.

Mixed Trusts 

A combination of different trust kinds is called a mixed trust. A discretionary trust may be used to handle some of the assets in the mixed trust, while other assets may be put away as an interest in possession trust. Sibling beneficiaries who reach the age of majority at different periods may benefit from these trusts.

Interest in Possession

This is a trust whereby a person (called the ‘life tenant’) is entitled to income or occupation of a property but not to the  capital. Such a trust may be established in the circumstances of second marriages where the settlor wishes to provide for a new partner while at the same time protecting capital for their own children to inherit in due course.

Why do I need a trust? 

With the help of trusts, someone can leave behind assets while maintaining some degree of control over how those assets are utilised and managed for the benefit of the beneficiaries.

Utilising trusts proves invaluable in handling estate affairs, strategising for inheritance tax arrangements, and securing assets for successive generations. 

The realm of trust law is intricate, offering an array of trust variants, necessitating meticulous selection of the suitable trust type and trustees. 

Furthermore, the sustained management of trusts poses significant challenges and consumes substantial amounts of time, which emphasises the significance of involving experienced solicitors in the creation and maintenance of trusts.

How can our experienced solicitors help? 

Our knowledgeable team of solicitors is skilled in handling the nuances of trusts and can offer professional advice catered to your particular situation. Merriman Solicitors is here to help you at every stage of the process, regardless of whether you’re thinking of creating an interest-in-possession trust, a discretionary trust, or a combination of the two.

Please fill out our contact form or call us at 01672 515846 for individualised assistance. Allow us to assist you in properly planning for the future and protecting your assets.

Making a Will ensures certainty for your loved ones who are likely to be experiencing a time of intense bereavement. It sets out clearly, for example, your funeral wishes and the persons whom you wish to appoint as executors to deal with the administration of your estate and to give effect to the terms of your Will after your death.

Making a Will avoids your estate from being administered according to strict statutory intestacy rules which are highly unlikely to reflect your true wishes.

Making a Will is simple. Don’t hesitate.

We can help with :

• Wills
• Probate
• Estate Administration
• Tax Planning
• Trusts and administration
• Powers of Attorney
• Deputyship Applications
• Court of Protection Matters

Complete the online enquiry form or contact us by phone 01672 515846 or email.

Probate and Estate Administration Services

Full-Service Probate

For those who prefer a comprehensive approach, our Full-Service Probate is designed to handle every aspect of Estate Administration, regardless of size or complexity. Whether you are just starting or wish to hand over the administration midway, our experienced team is ready to assist.

Dealing with the administration of a deceased person’s estate is a challenging task, particularly during a time of bereavement. We understand the emotional and stressful nature of this process and our team of expert lawyers are here to provide professional advice and support, making sure that  the deceased person’s estate is dealt with correctly, efficiently and in accordance with their wishes. 

How We Charge:

Where we are instructed to manage and process an Estate Administration to completion, our charge is based on a fixed fee of 1.95% plus VAT of the total gross value of the Estate.  For example, if the Estate has a value of £350,000, our fee would be £6,825 plus VAT (£1,365).  We offer an initial meeting charged at £250 plus VAT (£50) for up to an hour to discuss the Probate process and your requirements.  This charged would be waived if we are instructed to act and our fixed fee above is charged.

This service would cover the following:

• Valuing the Estate and ascertaining date of death assets and liability values by contacting the third parties with whom the deceased dealt;
• Assisting and advising on any professional valuations for property, investments, chattels, works of art etc;
• Considering and applying all exemptions and reliefs for Inheritance Tax which may apply;
• Completing the relevant HM Revenue and Customs and Inheritance Tax forms;
• Preparing tax calculations and advising on the available options to pay the tax due and any interest implications;
• Liaising with the District Valuer;
• Preparing the relevant application form and Legal Statement for the Grant to be signed by the Executors;
• Submitting the application to the Probate Court and dealing with any queries raised;
• Obtaining the Grant of Probate, advising when it is issued and producing certified copies;
• Arranging payment of any further Inheritance Tax due;
• Paying debts (excluding mortgages);
• Finalising utility bills;
• Identification of items specifically gifted and transferring them into the name of the beneficiary (excluding legal transfer work);
• Paying cash gifts detailed in the Will and obtaining receipts for the Executors as proof of payment;
• Advising on the requirement of Section 27 Trustee Act Notices;
• Discussing with the Executors and beneficiaries the transfer or encashment of holdings in any investment and the Capital Gains Tax and Income Tax implications of such;
• Dealing with Assents of properties to trustees or to beneficiaries;
• Advising on Deeds of Appropriation (if required);
• Collecting all of the Estate assets, including closure of bank accounts;
• Undertaking bankruptcy searches for individual beneficiaries;
• Registering the Estate with HMRC via the Trust Registration Service;
• Advising on and liaising with an accountant in respect of the preparation of Income and Capital Gains Tax returns for the Administration period;
• Preparing form R185E;
• Advising on and submitting Corrective Accounts and claims for loss on sale of property/shares;
• Preparing Estate Accounts as an ongoing process;
• Preparing Final Estate Accounts for Executor and beneficiary approval;
• Obtaining formal clearance from HMRC;
• Arranging final payments due to beneficiaries.

Please note that our fixed fee applies to estates with a value of up to £2,000,000, where the deceased was UK domiciled, there are no foreign Wills or assets, there are no disputes between beneficiaries and this firm is not acting as an Executor.  Our fixed fee is subject to a minimum charge of £6,825 plus VAT (£1,365).  For us to provide an accurate fee estimate in respect of the Estate, you would need to discuss the specific details with one of our specialists.

Additional Expenses (Disbursements):

We manage disbursements on your behalf, including probate application fees, searches, statutory advertisements, file archiving fees, and property-related costs.

Some of the most common types of disbursements in probate matters include:

• Probate application fee of £300 plus 1.50p for each additional sealed office copy of the Grant of Probate (usually one per asset).
• Bankruptcy- Land Charges Department searches (£2 per beneficiary).
• Statutory Advertisement of between £180 – £200 plus VAT (£36-£40) (The London Gazette – and a local newspaper) to protect against unexpected claims from unknown creditors.
• File Archiving Fee – £250 plus VAT (£50).

Please note that dealing with the sale or transfer of any property in the estate is not included in our Fixed Fee. For specific property-related services, additional fees may apply.

Timeframe:

On average, our experience suggests that estates are concluded within 6 to 18 months.

Typically:

• Obtaining information to apply for a Grant of Probate takes 8 to 20 weeks;
• The Grant of Probate application usually has a processing time of between 8 to 16 weeks from the point of submission to the Probate Registry;
• The process of collecting in assets and paying liabilities is entirely asset specific although most assets can typically be collected in circa 4 to 28 weeks; and
• Once all assets have been collected and all liabilities paid, final Estate Accounts will be prepared, and once concluded and approved, arrangements will be made for the distribution of assets to the beneficiaries. This final stage normally takes in the order of 4 to 8 weeks.

These timescales are on the basis that:

• There is a valid Will and appointment of Executors;
• There is no claim brought against the Estate;
• Where there is a property to sell it sells within an average time scale;
• The third parties with whom the deceased dealt, correspond within a reasonable timeframe.

Other Fixed Fees Available

Sometimes Executors may wish to instruct us to only obtain a Grant of Probate or a Grant of Letters of Administration (where there is no Will). We are happy to accept such instructions on the assumption that no inheritance tax is payable. Where all relevant financial information is provided to us by the Personal Representatives we will obtain the Grant for a fixed fee of £2,000 + VAT (£400).  This fixed fee covers the following:

• An initial meeting to discuss details of the Estate;
• Consideration of all financial and other information provided;
• Preparation of the Return of Estate Information form (IHT205) (if required) for approval and signature (however, where the estate requires a full Inheritance Tax Account on form IHT400, which is far more complex, our fixed fee will be £3,500 + VAT (£700));
• Where form IHT400 is required, submitting this in advance of the probate application to HM Revenue and Customs;
• Preparing the application for a Grant of Probate or Letters of Administration;
• Submitting the application to the Probate Registry;
• Providing the sealed copies of the Grant of Probate to the Personal Representatives.

No other work is included within this fixed fee, leaving you free to obtain all assets, pay all liabilities, settle all taxes due to HMRC and account to the beneficiaries entirely by yourself.

Where you do require us to undertake additional work or provide ad hoc advice, it will be the subject of an entirely separate and bespoke quotation.

Disbursements with Grant only Fixed Fee Work, will comprise only the Probate application fee of £300 and the cost of any Office Copy Grants you may require at the rate of £1.50 per copy.  Arrangement of any other searches would not be included in the fixed fee.

 Contact Us:

Complete our online enquiry form or reach out to us by phone at 01672 515846 or law@tmp.uk.net. Let us alleviate the burden of Estate Administration by providing expert guidance and support throughout the process.

Businesses should promote good practice at work with clear and fair policies and procedures. Stay on the right side of employment law with effective risk analysis to make the right decisions and prevent incidents before they arise.

When you want to sell or buy a business, we can:

• Take you through the transaction with efficiency
• Draft commercial contracts, partnership agreements
• Advise upon Winding up your business and Succession Planning

Protect your business against potentially expensive disputes. We can mediate to resolve small or major issues at your workplace. We can help you to be as prepared as possible and provide:

• Mediation in workplace issues
• Protection for your business with robust policy and procedure
• Contracts and settlements
• Protection for your business clients with effective restrictive covenants
• Practical advice for HR matters of recruitment, redundancy, sickness and absence
• Ways to manoeuvre disciplinary and grievance issues

However, in October 2007, the Chancellor announced that the NRB for married couples and civil partners would be transferable in so far as the assets of the first to die passed to the survivor.

This means that if one of a couple dies, and leaves all the Estate to the survivor, the survivor’s Estate can then claim 2 full NRB’s at the rate applicable on the survivor’s death.

The first death can have been at any time but the second death must have been after October 2007 to do list app. There is generally no longer an IHT advantage in setting up a NRB Discretionary Trust in your Will, although, depending on market conditions, the value of certain assets may increase faster than any increases in the NRB, for example, building land.

Other important advantages remain, for example, in the protection of assets from being taken into account in a financial means tested assessment by a local authority for state benefits or nursing home care. A NRB Discretionary Trust is also advantageous in its flexibility to take account of the beneficiaries circumstances and the tax legislation at the time of first death.

The NRB is currently £325,000.

What to do next

Complete the online enquiry form or contact us by phone 01672 515846 or email.

Mediation is a voluntary and confidential way to resolve conflict and disputes. Through mediation we have helped both parties achieve a solution that is acceptable to everyone. Mediation can be a highly cost-effective, fast route to resolution which helps you to move on with your life. An effective mediation can avoid protracted arguments and minimise the stress and impact on you or to your business. Our trained Mediator will manage various sorts of disputes such as:

• Contractual
• Workplace or Director disputes
• Complaints against Professionals
• Landlord and Tenant
• Neighbourhood Disputes
• Boundary Issues
• Business to Business
• Poor Service

The focus in mediation is finding a way forward.

Complete the online enquiry form or contact us by phone 01672 515846 or email.