Owning and managing forests : a guide to legal, financial, and practical matters.
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- Owning and Managing Forests: A Guide to Legal, Financial, and Practical Matters;
Owning and Managing Forests is both an accessible overview of the privileges, rights, and obligations that accompany forest ownership and a guidebook to help active forest owners and managers use laws to their advantage and avoid the pitfalls of expensive and exhausting litigation. This edition provides current information on recent changes in property, environmental, and tax laws, while also discussing new directions in forest management. It offers expanded treatment of topics including private property, searching property records, easements, estate planning, timber sale contracts, working with forestry professionals, and how to pass woodlands intact to future generations.
The book also describes the many different facets of trusts, changes in forestland taxation methods, and new licensing and certification options.
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Included, too, is a section on avoiding disputes and how to use alternative dispute resolution methods to avoid costly, troubling, and time-consuming court battles. Owning and Managing Forests provides clear and concise descriptions of often confusing concepts and difficult subjects, and addresses issues in a competent yet conversational tone. Anyone involved with owning or managing forestland will find the book an essential guide and reference. The year in question is 1 November to 31 October. Payment should be made to the Society's Registrar's Department before you start to practice on your own, if you have not already paid it as a manager of another practice unit in that practice year see Schedule 3 part 1 of Solicitors Scotland Act You must also have professional indemnity insurance under the Master Policy before commencing your own practice see Rules D1 Practising Certificate and B7 Professional Indemnity Insurance.
You should consider whether the cover under the Master Policy will be sufficient taking into account the nature of the business you intend to carry on. Once the completed form has been processed by Lockton they will issue the appropriate Certificate of Insurance, and will provide you with a copy which you must then send to the Registrar's Department at the Society.
McEvoy, Thomas J. (Thomas James) 1953-
That department will not put your practice unit on the Society's website until they have seen evidence of your insurance cover. When you set up in practice it is important that you put in place procedures and systems to reduce your risk of claims.
The Journal online. If your practice is to be restricted to criminal court work, you will be able to obtain a substantial discount on the Master Policy premium provided that you provide Lockton with a written undertaking to restrict your practice in this way.
Once the practice has consulted the Registrars Department on the necessary set-up costs and procedures, Financial Compliance would be happy to arrange a meeting if still required. The meeting would then discuss how to comply with the Accounts Rules and your general understanding of them. It would be sensible at an early stage and before you start up in practice to consult an accountant, both for accounting and tax advice and for advice on setting up the appropriate bookkeeping procedures to comply with the Accounts Rules.
You should also decide who will be maintaining the books and records of the practice, and whether the Cashroom function will be carried out in-house, or be outsourced.
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Financial Compliance can supply the names of some outsourced companies who provide Cashroom services. A member of the Financial Compliance Team will carry out an inspection of your books and records in terms of the Accounts Rules usually within 6 to 9 months of starting up your practice to make sure that your bookkeeping is satisfactory. The date will be intimated to you in advance. You will be required to provide the Society with Accounts Certificates in accordance with the Accounts Rules.
You may wish to have your accountant help you with the preparation of these certificates but that is not mandatory. You will require to have formal record keeping procedures and maintain internal reporting procedures as well as verifying the identity of every client. Such verification should have regard to the risk of money-laundering in the particular matter.
That risk may vary from nil to substantial depending on the type of matter or transaction, the nature of the client's business etc. Your accountant will be able to advise on this and should also be able to advise whether it would be desirable to do so even if your projected turnover in your first year would not exceed the VAT threshold. You will require to register for both civil and criminal legal aid including advice and assistance and should contact SLAB to do so. You must inform the Society of the commencement of practice and certain other details relating to the practice unit within 7 days of commencement by completing and returning the appropriate form.
The form may be downloaded from the Forms and Fees section of the Society's website.
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All advertising and other promotional activities of practice units must comply with Rule B3 Advertising and Promotion. If you are advertising fees please refer to the relevant guidance. If your firm wishes to undertake mainstream financial business or investment business authorisation is required direct from the Financial Services Authority. If you have not previously been a manager principal in a practice within the last three years before setting up your practice unit you will require to attend the Society's practice management course.