Our June 11th blog post broadly discussed arbitration and the upward trend of including mandatory arbitration clauses in agreements. This week, we analyze the pros and cons of arbitration to elucidate when arbitration clauses are useful and when they are potentially harmful. In arbitration, individuals and entities bring legal claims against one another outside the public court system. Although many aspects of arbitration are similar to a civil court trial, arbitration has a number of key differences. Pros Speed – Arbitration is generally faster than litigation. Whereas litigation often takes years, the arbitration process may only take a few months. However, arbitration can take longer when there are…
-
-
Creating a Successful Wealth Management Plan: Is a Corporate Trustee Right for You?
As the aging baby boomer generation reaches retirement age and beyond, their wealth management decisions will significantly influence the demand for fiduciary services. Twenty-first century technology makes it easier than ever to retrieve up-to-date financial information and self-help investment guides. Accordingly, baby boomers and subsequent generations are more financially sophisticated than their parents, and increasingly responsible for their own savings, income, and financial future. While many “boomers” feel comfortable managing their own assets, they are almost three times more likely to appoint a corporate trustee to manage wealth and inheritance for future generations.1 Motivations behind this decision include the increasing complexity of wealth management, reluctance…
