When families are in conflict with each other, with their Trustees or Executors, or with their banks, they now have an option other than litigation.
What is Mediation?
Trusts and Estates Mediation is a confidential, fast track process that allows all parties to a dispute to be heard fully on their viewpoint, to hear others’ viewpoints, and to turn their attention to mutual problem solving with the aid of a specialist mediator.
What are the Benefits of Mediation?
- Discussions and documents are confidential unlike public court filings.
- Focus is on the future and creative problem solving rather than past wrongs.
- Mediation preserves family relationships after the matter is resolved rather than alienating the parties further.
- Mediation does not preclude arbitration or later litigation if some portion of the dispute cannot be resolved in mediation.
- If there is later litigation, the mediator cannot be called to testify in court nor is her work product discoverable. In this way, no party is “prejudiced” by prior discussions and negotiations.
- Before reaching a final agreement, the parties consult with their respective attorneys, accountants, and financial professionals.
- Upon reaching a final agreement, the parties sign a simple plain English agreement outlining the terms of the settlement.
- Compliance with such agreements is high because the parties themselves designed the solution and are “invested” in its implementation.
- Implementation disputes, if any, are quickly addressed in follow up mediation.
- Fees for mediation are shared by the parties or can be paid by the trust or the estate.