Our Client
Our Client was appointed as the executor and was also one of seven beneficiaries of his late brother’s estate, who passed away in January 2021. The estate was valued at approximately £3.5 million and comprised residential property, pensions, and a substantial share portfolio.
He instructed the Defendant firm of solicitors to administer the estate. The firm advised that inheritance tax in the sum of £1,098,067 was payable before the Grant of Probate could be obtained.
However, when the shares were eventually sold, two significant issues arose:
- The shares had depreciated in value.
- The estate was no longer eligible for a tax rebate that would have been available had the shares been sold within 12 months of the date of death.
Crucially, our Client was not properly advised that the shares needed to be sold within this 12-month window to qualify for the rebate. As a result, both he and the other beneficiaries suffered a substantial financial loss.
How Been Let Down Helped
Our Client approached Been Let Down for expert legal advice regarding his potential professional negligence claim.
Following a thorough review of the evidence and consultation with both Counsel and HMRC, Been Let Down concluded that, had our Client been properly advised about the timing of the share sale and the associated tax relief, the estate would have been entitled to a rebate of approximately £240,000.
Believing there were reasonable prospects of success, we pursued a claim against the Defendant firm. Through robust negotiation, we successfully secured £215,000 in compensation for our Client.
What Our Client Had to Say
Our Client expressed his delight with the outcome and praised the way Been Let Down managed the case from start to finish.
He shared that, without the support of a No Win, No Fee arrangement, he would never have been able to contemplate bringing the claim. He felt reassured knowing that solicitors working on this basis have confidence in their ability to succeed—something that was clearly reflected in the result achieved.