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Buachaill, Barrister
Category: Law
Satisfied Customers: 10944
Experience:  Barrister 17 years experience
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I believe my solicitor was negligent in not advising my late

Customer Question

I believe my solicitor was negligent in not advising my late father of the tax implications when setting up an onshore trust to ensure the value of his property ( £195k when finally sold) would go to my daughters. The outcome has been a potential charge of £20k in CGT whereas if my father had retained the property in his own name no tax would have been payable, his estate being below the IHT exempt limit.
I am seeking a professional review of correspondence relating to the setting up of the trust to decide whether to commence action against my father's solicitor to hold him liable for all tax and other costs incurred as a consequence of him failing to comply with trustee's responsibilities.
Submitted: 3 years ago.
Category: Law
Expert:  Buachaill replied 3 years ago.

1. Essentially, where a solicitor fails to advise a client as to the tax consequences of a certain course of action, when the client requests that advice, then it is negligence on the part of the solicitor not to so advise or not to advise properly. Accordingly, here your late husband's estate and his two daughters who were affected by the negligent advice, will be able to sue the solicitor in negligence for the failure to give proper tax advice. Be aware that there will be a time limit on the taking of claims. Accordingly, your late husband's estate and his two daughters should issue legal proceedings against the solicitor as soon as possible in order to stop time running for the purposes of the Statute of Limitations. Accordingly, you should get a new solicitor to issue legal proceedings on behalf of your late husband's estate and your two daughters. Be aware that you will also be able to recover some if not all of the costs incurred in the solicitor acting as trustee of this new trust.