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For closely held companies, a frequently used estate planning strategy is to have the company buy life insurance policies on each major shareholder to fund the buyout of the shareholder’s shares in the event of his or her death. A recent decision by the Supreme Court requires a fresh look at this approach.

It’s certainly not unusual for at least one member of a formerly married couple to express hostile feelings after a divorce. But when this goes further and becomes abusive behavior, what options are available to the spouse being attacked?

California’s Proposition 13 limits increases in the assessed value of real property – and therefore in the taxes levied on that property – unless there is a “change in ownership” of the property. But if the only change is in the form of ownership of the property, as from a partnership or corporation to a trust, with the beneficial ownership interests remaining unchanged, there is no reassessment.

Setting up a trust allows us to specify how we want our assets to be distributed to our beneficiaries, and to modify those decisions later should circumstances – or just our wishes – change. But a trust must be drafted carefully, to ensure that it meets legal requirements, and any subsequent changes must be made with equal care, as a case recently decided by the California Court of Appeal demonstrates (Trotter v Van Dyck).

Arbitration is supposed to provide a quicker, more private, and less expensive alternative to litigating a dispute in a courtroom. Because the parties may have very different resources – often an individual confronting a large corporation – California requires the parties to an arbitration to adhere closely to rules intended to keep the process as fair as possible.

Lawyers are duty-bound to vigorously represent the interests of their clients, and that can sometimes lead to some pretty contentious behavior in a courtroom or when two sides are negotiating a bitterly contested agreement. But vigorous advocacy is supposed to stop short of breaking the ethical rules that lawyers are duty-bound to follow.