According to the Institute of Family Businesses, about 65% of the UK’s 4.5 million private-sector businesses are a family-run enterprise.

The law has to consider statutory guidelines including the current income, earning capacity, property and other financial resources of a husband and wife, and what those circumstances will be in the foreseeable future.

Family businesses are treated as assets in the context of divorce. When it comes to negotiating a financial settlement, the value of the business or business interest needs to be ascertained, normally with expert assistance, so that the value can be factored into the financial settlement.

If the valuation of a partnership interest or shareholding is a relatively significant proportion of the overall valuation of the assets owned by the parties, it may be necessary for value to be realised from the business. It may either be appropriate for a partner or shareholder to divest a proportion of their interest or to release funds from the business.

The ability of a partner to extract funds from their business will depend upon the provisions of the partnership agreement. It may be necessary for a partnership to be dissolved and “replaced” by a new partnership with different partnership shares. The ability of a shareholder to realise value through the transfer of a proportion of their shares will be dependent upon the provisions of the article of association.

Obtaining prompt and expert legal and accountancy advice from trusted solicitors is essential when considering the potential ways in which funds may be raised by the business, and its vital that the potential tax effects are taken into account.

Home Information Packs are now an integral requirement in the sale of residential properties. If you are selling your property we produce the Home Information Pack for you at no extra charge apart from the mandatory searches that need to form part of the Home Information Pack (H.I.P.). The essential searches at the moment are a Local Authority search and a Water & Drainage report. If we are acting in the sale of the property we make no charge to you for the preparation of the Pack. It is likely that your Estate Agent will recommend either that they prepare the H.I.P. or that they will arrange for the H.I.P. to be prepared. This could cost up to £450 on many medium valued houses.

RT Law produce their own Home Information Pack for you and take the view that preparing such a Pack should not involve such an expense to you. As your solicitors, our policy is that a Home Information Pack is a legal document and should therefore always be prepared by the solicitor who is also acting in the sale of the property for you. We strongly advise that before you accept any recommended Home Information Pack either prepared by an Estate Agent or by an external provider that you speak with us before committing yourself to any expenditure.

All houses require a Home Information Pack if marketed after the 14th December 2007. A Home Information Pack is a fairly simple document for a Freehold property. If you own a Leasehold property there are some additional documents including a requirement for the Lease and information relating to any management company that might be involved on behalf of your Landlord. In our experience many members of the public are not aware that their solicitor prepares the Home Information Packs.

At RT Law we pride ourselves on the quality of the Pack that we produce, which once prepared is then emailed to the selling agents in order to ensure that the sale of your property is dealt with efficiently and speedily.

R.T Law are a progressive, modern, forward thinking practice which continues to grow in strength and depth. Our principal aim is to give practical advice with a friendly manner at a cost you can afford. At R.T Law the client comes first. Much of our work is from repeat clients and we come highly recommended by clients both past and present.

The Principal Solicitor in the Practice is Mr Ron Thomas who has wide experience in many aspects of the Law and has worked in the Birmingham and surrounding area for many years. In today’s society distance is no problem for we have invested  in the technology to ensure we offer an efficient and streamline service. The Practice is managed by his wife, Mrs Tracy Thomas and we have dedicated departmental Secretaries who are always available to answer any queries you may have.

With all aspects of our work, our working method and technology has been set up to create a relaxed but friendly and professional approach as we strive to provide for you the best quality legal service at a reasonable cost to you with trustworthy solicitors.

We advise on the whole range of Family Law matters including Divorce, Co-habitation and Child matters. The firm is accredited by membership of the Law Society Family Law Panel as well as being a member of “Resolution”, an umbrella organization which expects a high standard of advice and approach to Family Law work.

We pride ourselves in our conveyancing work and provide an efficient service with the emphasis on removing the anxiety that often accompanies moving house. We produce our own in-house Home Information Packs, giving you the benefit of keeping all of the required legal work under one roof. You will have the expertise of a qualified solicitor from the outset of the transaction, ensuring that any difficulties can be dealt with at an early stage. We can even assist our clients in finding a suitable Surveyors. Communication is the key to good business and we always aim to keep our clients fully informed as matters progress.

The practice handles Accident Claims so to recover compensation for Personal Injury with regards to Road Traffic Accidents, Accidents at Work and Trips & Slip claims. We deal with many types of Personal Injury cases involving Claims made within three years of the accident on a NO WIN NO FEE basis. Our clients keep all of the compensation recovered.