A carefully drafted estate plan is supposed to ensure that the wishes of the trustor will be carried out, even as circumstances change over what may be many years between the drafting of the plan and when it becomes effective.
Most websites, including entertainment and game sites, include a “terms and conditions” page that asks users to agree to a long list of obligations that few consumers even glance at, much less study in detail. Often one of those obligations is to resolve any disputes via arbitration rather than litigation.
The legal system gives the parties involved in litigation broad rights to gather information from the opposing side, but there are limits to this discovery process. Communications between a husband and wife, for example, are generally considered “privileged,” or off-limits to discovery requests.
When setting up a trust as part of a family estate plan, it’s not uncommon to designate a family member as a successor trustee who will ensure that the goals of the trust are accomplished. But that successor trustee is obliged to treat all beneficiaries equally. This can be a challenge when family relationships come into play.
It is common today for employers to ask employees to sign agreements to arbitrate any future disputes about work-related issues, because arbitration is often faster, less expensive, and more private than litigating such disputes in a court.
In the November 8 election, voters in the City of Los Angeles savaged the value of so-called “expensive” residential and commercial real estate by adopting Measure ULA (“ULA”). Dubbed the “Mansion Tax,” ULA imposes additional transfer taxes on the sale of residential and commercial properties in Los Angeles, effective April 1, 2023. A taxpayers' group is now challenging its legality in court.
