Factsheets

 

What is a declaration of trust?

Overview

A declaration of trust is a legal document which can be used to formally agree how an asset is owned. A declaration of trust is most frequently (although not exclusively) used in connection with a property and can set out how the proceeds should be divided if the property is later sold.

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Local Authority Search

Overview

There are a large number of companies which offer a Local Authority Search service, as well as your own District or Borough Council. These are known collectively as personal search companies (PSCs) and they produce, not surprisingly, personal searches (see below). However, all Local Authority Search products have one thing in common - they must obtain their information from the local authoritative source (your local council).

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Do I need a survey?

Overview

This is the biggest the investment you will ever make in your entire life. You need to make sure that you have undertaken as much research and obtain as much professional help as possible to ascertain that this is the right property for you and that there are no hidden surprises once you have completed the purchased.

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Clinical Negligence

Overview

What can we do for you? The Medical Negligence Team at Verisona Law has extensive experience and expertise in medical negligence law which gives us the confidence to deal with any type of medical negligence case. We understand that these cases are often very sensitive, and our practitioners pride themselves on building positive working relationships with our clients, whilst leaving no stone unturned in order to get to the truth.

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Business Lasting Power of Attorney

Overview

A Lasting Power of Attorney (LPA) is the way to ensure that the people you trust will be able to take important decisions on your behalf if you become mentally or physically incapable of doing so for yourself. Lasting Powers of Attorney should not be seen in the context of "only individuals or the elderly" should have them. What will happen to the day to day running of your business if you became physically or mentally incapacitated?

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An introduction to Life Interest Trusts

Overview?

A Life Interest Trust is a type of trust that lets you leave your money or property to someone for their lifetime (‘a life interest’) but ultimately to others when that person (the ‘life tenant’) dies.

Typically you might leave a life interest to your partner. They then have the automatic right to the income generated by your assets during their lifetime, but no automatic right to the capital.

If you leave a property or your share of a property in this way, your partner would be entitled to live in the property for life, but your share would then pass to your ultimate beneficiary when he or she dies. This could, for example, be a child from a former marriage.

Life Interest Trusts can provide an elegant solution to other situations, which we explain later on in this article.

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Compensation Orders against Disqualified Directors

Overview

As from 1st October 2016 it will be possible for the Secretary of State, in addition to seeking a disqualification order, to apply to the court for an order that the director should pay compensation for the losses which he has caused to the creditors of the insolvent company or in the alternative seek an undertaking to pay a corresponding amount to the Secretary of State.

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