Funding inheritance litigation – another way to fund probate litigation
A recent court ruling allowed the plaintiff in a contentious probate case to recover the increase in success fees that was part of the “no free gain” agreement she had with her lawyer.
The request was made under the Inheritance Act 1975 by the daughter of the deceased. She was estranged from her father and had not been able to work for the past 10 years due to mental health issues.
She was assigned part of the value of the estate after an unsuccessful appeal by the sole beneficiary (the deceased’s wife). In the landmark ruling, this also included the costs of successfully completing the contingency fee arrangement.
People who file a claim under the 1975 law usually do so because they are suffering from some kind of financial hardship.
However, the ruling said that decision would be made on a case-by-case basis and that costs could only be claimed if there were no other means to cover the legal costs upfront.
Dicky Davies, Director of Business Development, Tower Street Finance said:
“We offer an alternative method of financing inheritance litigation, and our product – Funding of inheritance disputes – was designed for people who cannot afford to cover legal costs on their own, as the financing is reimbursed by the estate.
“Many of the lawyers we work with have said that they often see clients with good claims go away because the firm was not prepared to deal with bank cases with a contingency fee agreement, so this product is of tremendous benefit to both the law firm and its clients. “
Benefits of Estate Dispute Funding:
- Quick and easy decision making
- No credit check on the customer
- No assessment fee – decision is made based on information provided by lawyer
- Amount of funding agreed and 100 percent of costs are covered
- Interest is only paid on the amount drawn from the facility to cover attorneys’ fees as they are paid
- Funding is repaid by inheritance
- No personal liability and no monthly reimbursement
For more information call us on 0343 504 7100, email [email protected] or visit https://towerstreetfinance.co.uk/partner-with-us/
This article has been submitted for publication by Tower Street Finance as part of their advertising agreement with Today’s Wills and Probate. The opinions expressed in this article are those of the author and not those of Today’s Wills and Probate.