Legal Services
Now more than ever the complications and pressures of daily life are becoming an increasing burden on everyone. Let us assist and guide you.Wills, Executries and Trusts
This is one of our main areas of business and a substantial number of people have trusted us to draft their Wills and administer their estates on death. It is important to consider the question of making a Will at an early stage and regularly update your Will to make sure your wishes can be realised on death.
Partnerships
We regularly draft Partnership Agreements and deal with any questions which may arise in the course of business.
Elderly
We have many years experience in dealing with the Elderly and their specific problems and wishes.
Powers of Attorney
We are entrusted with the day-to-day management of the financial affairs and investments of a large number of clients.
FEES AND THE WORK WE DO
We are pleased to provide some PRICING INFORMATION on the main areas of LEGAL WORK we deal with This is an indication of what our fees include. This is a SIMPLE GUIDE and is not binding or exhaustive but we hope you find it helpful. The pricing information is based on “normal” transactions but UNFORTUNATELY today there is no such things as “normal”. Everyone has individual needs, circumstances and requirements which are personal and specific to them and these change over time. As a client of MURDOCH, MCMATH & MITCHELL you are treated as an individual and not part of a process.
We always recommend you contact one of our three Solicitors to discuss your specific requirements so that we can ensure you are provided with a fee quote which is accurate and as comprehensive as is possible. If there is anything which is not clear or which does not fall into a category please do not hesitate to contact us. One of our Solicitors will be able to help.
SERVICE LEVELS
As with every other Firm we attempt to provide the best possible service we can but we are only human and like to treat our clients as human as well. We focus on building a relationship with our clients and many families have been with us for several generations. If you prefer an automated online system we are not the Firm for you. Our clients appreciate what we provide but we realise we are not for everyone and do not intend to be.
VAT
The fees show below are all exclusive of VAT. At the current time in 2024 VAT is charge at 20%. Outlays detailed will usually be inclusive of VAT.
OUTLAYS
Different transactions types require different outlays and these vary according to your requirements.
1. RESIDENTIAL PURCHASES AND RESIDENTIAL SALES
The fees, which we charge, cover all the work we undertake to buy or sell your home by our experienced staff many of whom have been with us for decades. Included in the service are the submission and receipt of formal Offers, issuing, qualifying and concluding letters and completing the missives/contract for the transaction. We require to examine Title Deeds, order these and Property Reports, Planning and Building documentation, arrange water tests and drainage certificates from SEPA and other legal searches required in the purchase and sale of property. On occasion there may be the necessity of obtaining Title Indemnity Insurance. We require to report to you on your legal title and require to draft, revise and register the documentation which allows ownership of the property to vest in you. We require to deal with any sums payable for Land and Buildings Transaction Tax and any monies payable following settlement. Our costs include obtaining and reviewing proof of source of wealth documentation to comply with Anti Money Laundering and Law Society Regulations. Our fees are based on the value of the property which you are buying or selling and the associated risk. Before advising on fees for a purchase or sale we require to know details such as where the property is located, its estimated value, whether there are private or public services available to it and how it is accessed. This will all impact on the cost.
Outlays For Residential Purchases
The outlays which we have to pay to third parties are usually based on the value or price of the property you are buying. The outlays include registering your title in the Land Register of Scotland and paying Land and Buildings Transaction Tax. If you are purchasing a second property or have an interest in another property anywhere in the world you may also be liable to ADS which is Additional Dwelling Supplement. The registration fees for the Registers of Scotland vary and change.
Outlays For Residential Sales
The outlays required will depend on the legal title to your property but will usually include combined Property Enquiry Certificate and LEGAL Report, a PLANS Report and an Environmental Report. An Advance Notice is required by the Registers of Scotland and potentially the registration dues of discharging your Standard Security. We may also require to request copy Title Deeds, a Company and Charges Report for a Limited Company. There may also be the costs of private water analysis or SEPA Consent.
2. MORTGAGES WITH RESIDENTIAL PURCHASES
If you require mortgage finance this involves additional work and we must report on the Title Deed of your home to your lender of choice. We require to prepare paperwork, obtain consent from the occupant of your home, apply for an Advance Notice, register a Standard Security and ensure that your Lender’s interest are protected throughout the transaction. Any purchases involving mortgage finance will increase our fee to cover the additional work.
Outlays For Mortgage Work
There will be a registration fee payable to Registers of Scotland for registering the Standard Security in favour of your chosen lender. There is also a requirement to register an Advance Notice in favour of the lender with the Registers of Scotland.
3. DISCHARGE OF RESENDENTIAL MORTGAGE
Once your mortgage has been paid off your lender will confirm that you will need to discharge its secured interest over your home. Our fee in 2024 for arranging that discharge is £250 plus VAT. This fee includes our work for preparing the relevant discharge document, arranging signature by the lender and registration of the Deed with the Registers of Scotland and reporting to you.
Outlay
The registration fee which is charged by the Registers of Scotland is dependent on whether your home is registered in the Land Register or the Sasine Register and whether your lender has a digital Discharge system or not.
4. WILLS
We deal with a considerable number of Wills and have a large Wills safe. We require to meet with you and undertake a review of your personal requirements before advising on the Will. We do not advise on taxation or other issues such as Inheritance Tax and strongly recommend that you consult an independent Financial Adviser on these matters. Our fee for a simple Will in 2024 is £200 plus VAT and this increases if a complex Will is required.
5. CONTINUING AND WELFARE POWER OF ATTORNEY
Our fee for dealing with the preparation of a Power of Attorney is £350 plus VAT which continues beyond registration of the document and allows you to receive multiple copies of certified Powers of Attorney when these are required. Our fee includes obtaining specific instructions as to the Powers you are comfortable in providing, obtaining signed declaration from your Attorneys and advising them on their responsibilities to you. Through the Office of the Public Guardian we arrange for the registration of the Power of Attorney and to keeping you advised as to progress. The outlay for Power of Attorney registration in 2024 is £87.00 including VAT but increases on a yearly basis.
6. EXECUTRY ADMISTRATION
Our Firm specialises in the winding up of Executry Estates. Our fees are based on the actual time taken to assist together with a sum for risk and responsibility (which can be considerable) depending on the Executry involved. Our fees cover a review of the financial papers, corresponding with the Executors where there is a Will, or arranging for the appointment of an Executor where the deceased has died without making a Will. We arrange appropriate insurance if there is a Bond of Caution involved, we contact the relevant financial and other organisations to obtain date of death valuations for investments as well as information of any sums payable by the deceased. We then prepare an Inventory for Confirmation which is lodged with the Sheriff Court to allow administration of the estate. We complete all relevant Inheritance Tax Forms and take specialist advise on this, if required. We ingather the Estate and arrange for the sale of any relevant house or other items, payment of any sums due by the Estate, dealing with any legal rights claims by a widow and widower and children and dealing with beneficiaries in line with intestacy where there is no Will. At the end of the process we instruct an Independent Firm of Law Accountants to determine a reasonable fee for any work undertaken. The Auditor/Law Accountant will be instructed to assess our fees taking into account our hourly rate with the minimal chargeable time unit of 6 minutes. Our current hourly rate is £295 per hour for each of our three Solicitors exclusive of VAT and outlays. The rate may vary according to factors such as urgency, importance of the work, the amount or value of the property involved, complexity, difficulty or novelty of the matters, length, number and importance of documents, papers. We CANNOT provide a fee estimate in advance. The nature of Executry works makes this extremely difficult to judge how much work will be involved. Unless we receive specific instruction to the contrary the Auditor/Law Accountants fee is charged to the Executry and regarded as an expense payable from the Estate. The winding up procedure can take many months but we are unable to wind up an estate before a six month period has expired as claimants may make a claim against the estate up until the point. If there is a property to be sold or transferred as part of the Executry Estate this will either be included in the Law Accountants assessment or a separate fee note will issued.
We always recommend you contact one of our three Solicitors to discuss your specific requirements so that we can ensure you are provided with a fee quote which is accurate and as comprehensive as is possible. If there is anything which is not clear or which does not fall into a category please do not hesitate to contact us. One of our Solicitors will be able to help.
SERVICE LEVELS
As with every other Firm we attempt to provide the best possible service we can but we are only human and like to treat our clients as human as well. We focus on building a relationship with our clients and many families have been with us for several generations. If you prefer an automated online system we are not the Firm for you. Our clients appreciate what we provide but we realise we are not for everyone and do not intend to be.
VAT
The fees show below are all exclusive of VAT. At the current time in 2024 VAT is charge at 20%. Outlays detailed will usually be inclusive of VAT.
OUTLAYS
Different transactions types require different outlays and these vary according to your requirements.
1. RESIDENTIAL PURCHASES AND RESIDENTIAL SALES
The fees, which we charge, cover all the work we undertake to buy or sell your home by our experienced staff many of whom have been with us for decades. Included in the service are the submission and receipt of formal Offers, issuing, qualifying and concluding letters and completing the missives/contract for the transaction. We require to examine Title Deeds, order these and Property Reports, Planning and Building documentation, arrange water tests and drainage certificates from SEPA and other legal searches required in the purchase and sale of property. On occasion there may be the necessity of obtaining Title Indemnity Insurance. We require to report to you on your legal title and require to draft, revise and register the documentation which allows ownership of the property to vest in you. We require to deal with any sums payable for Land and Buildings Transaction Tax and any monies payable following settlement. Our costs include obtaining and reviewing proof of source of wealth documentation to comply with Anti Money Laundering and Law Society Regulations. Our fees are based on the value of the property which you are buying or selling and the associated risk. Before advising on fees for a purchase or sale we require to know details such as where the property is located, its estimated value, whether there are private or public services available to it and how it is accessed. This will all impact on the cost.
Outlays For Residential Purchases
The outlays which we have to pay to third parties are usually based on the value or price of the property you are buying. The outlays include registering your title in the Land Register of Scotland and paying Land and Buildings Transaction Tax. If you are purchasing a second property or have an interest in another property anywhere in the world you may also be liable to ADS which is Additional Dwelling Supplement. The registration fees for the Registers of Scotland vary and change.
Outlays For Residential Sales
The outlays required will depend on the legal title to your property but will usually include combined Property Enquiry Certificate and LEGAL Report, a PLANS Report and an Environmental Report. An Advance Notice is required by the Registers of Scotland and potentially the registration dues of discharging your Standard Security. We may also require to request copy Title Deeds, a Company and Charges Report for a Limited Company. There may also be the costs of private water analysis or SEPA Consent.
2. MORTGAGES WITH RESIDENTIAL PURCHASES
If you require mortgage finance this involves additional work and we must report on the Title Deed of your home to your lender of choice. We require to prepare paperwork, obtain consent from the occupant of your home, apply for an Advance Notice, register a Standard Security and ensure that your Lender’s interest are protected throughout the transaction. Any purchases involving mortgage finance will increase our fee to cover the additional work.
Outlays For Mortgage Work
There will be a registration fee payable to Registers of Scotland for registering the Standard Security in favour of your chosen lender. There is also a requirement to register an Advance Notice in favour of the lender with the Registers of Scotland.
3. DISCHARGE OF RESENDENTIAL MORTGAGE
Once your mortgage has been paid off your lender will confirm that you will need to discharge its secured interest over your home. Our fee in 2024 for arranging that discharge is £250 plus VAT. This fee includes our work for preparing the relevant discharge document, arranging signature by the lender and registration of the Deed with the Registers of Scotland and reporting to you.
Outlay
The registration fee which is charged by the Registers of Scotland is dependent on whether your home is registered in the Land Register or the Sasine Register and whether your lender has a digital Discharge system or not.
4. WILLS
We deal with a considerable number of Wills and have a large Wills safe. We require to meet with you and undertake a review of your personal requirements before advising on the Will. We do not advise on taxation or other issues such as Inheritance Tax and strongly recommend that you consult an independent Financial Adviser on these matters. Our fee for a simple Will in 2024 is £200 plus VAT and this increases if a complex Will is required.
5. CONTINUING AND WELFARE POWER OF ATTORNEY
Our fee for dealing with the preparation of a Power of Attorney is £350 plus VAT which continues beyond registration of the document and allows you to receive multiple copies of certified Powers of Attorney when these are required. Our fee includes obtaining specific instructions as to the Powers you are comfortable in providing, obtaining signed declaration from your Attorneys and advising them on their responsibilities to you. Through the Office of the Public Guardian we arrange for the registration of the Power of Attorney and to keeping you advised as to progress. The outlay for Power of Attorney registration in 2024 is £87.00 including VAT but increases on a yearly basis.
6. EXECUTRY ADMISTRATION
Our Firm specialises in the winding up of Executry Estates. Our fees are based on the actual time taken to assist together with a sum for risk and responsibility (which can be considerable) depending on the Executry involved. Our fees cover a review of the financial papers, corresponding with the Executors where there is a Will, or arranging for the appointment of an Executor where the deceased has died without making a Will. We arrange appropriate insurance if there is a Bond of Caution involved, we contact the relevant financial and other organisations to obtain date of death valuations for investments as well as information of any sums payable by the deceased. We then prepare an Inventory for Confirmation which is lodged with the Sheriff Court to allow administration of the estate. We complete all relevant Inheritance Tax Forms and take specialist advise on this, if required. We ingather the Estate and arrange for the sale of any relevant house or other items, payment of any sums due by the Estate, dealing with any legal rights claims by a widow and widower and children and dealing with beneficiaries in line with intestacy where there is no Will. At the end of the process we instruct an Independent Firm of Law Accountants to determine a reasonable fee for any work undertaken. The Auditor/Law Accountant will be instructed to assess our fees taking into account our hourly rate with the minimal chargeable time unit of 6 minutes. Our current hourly rate is £295 per hour for each of our three Solicitors exclusive of VAT and outlays. The rate may vary according to factors such as urgency, importance of the work, the amount or value of the property involved, complexity, difficulty or novelty of the matters, length, number and importance of documents, papers. We CANNOT provide a fee estimate in advance. The nature of Executry works makes this extremely difficult to judge how much work will be involved. Unless we receive specific instruction to the contrary the Auditor/Law Accountants fee is charged to the Executry and regarded as an expense payable from the Estate. The winding up procedure can take many months but we are unable to wind up an estate before a six month period has expired as claimants may make a claim against the estate up until the point. If there is a property to be sold or transferred as part of the Executry Estate this will either be included in the Law Accountants assessment or a separate fee note will issued.
