Client dying shortly after share sale: whether solicitors negligent
In Mason & Others v Mills & Reeve (Ch D – 1 March) a company’s chairman and controlling shareholder (S) who was 61 years old overweight and had previously suffered a heart attack sought the advice of a solicitors’ firm with regard to the sale of his shares.
Less than three weeks after the sale S died unexpectedly during a hospital operation. S’s daughters and executors subsequently began proceedings against the solicitors alleging that they should have advised S to defer the sale of his shares until after the hospital operation since if he had still held the shares at the time of his death they would have qualified for business property relief and the IHT liability on S’s death would have been substantially lower.
The Ch D reviewed the evidence in detail...
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Client dying shortly after share sale: whether solicitors negligent
In Mason & Others v Mills & Reeve (Ch D – 1 March) a company’s chairman and controlling shareholder (S) who was 61 years old overweight and had previously suffered a heart attack sought the advice of a solicitors’ firm with regard to the sale of his shares.
Less than three weeks after the sale S died unexpectedly during a hospital operation. S’s daughters and executors subsequently began proceedings against the solicitors alleging that they should have advised S to defer the sale of his shares until after the hospital operation since if he had still held the shares at the time of his death they would have qualified for business property relief and the IHT liability on S’s death would have been substantially lower.
The Ch D reviewed the evidence in detail...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")