QUESTION
Is there some sort of legal action that can be taken for malpractice, negligence. misguided advice that a financial adviser gave me?
Asked on Mar 10th, 2014 on Taxation - Michigan
More details to this question:
His recommendations caused me to lose over $100,000. I'm led to believe it is NOT tax deductible!! Thank you in advance for much needed advice.
2 ANSWERS
Yes, you can make a claim for professional malpractice. Usually there is an arbitration clause in your contract with them that controls and requires arbitration. The losses are usually tax deductible as capital losses.
Answered on Apr 10th, 2014 at 7:33 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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There are various forms and causes of action against legal advisers and brokers who act inappropriately. Without further detail however I cannot form an opinion as to whether or not you have, or do not, have any claim.
Answered on Apr 09th, 2014 at 8:05 PM