Estate disputes have the potential to fracture families, friendships, and partnerships. If an agreement cannot be reached amicably, a painful situation may drag on for months or years to come. Fortunately, courtroom litigation is not the only option. Through mediation, all parties have the potential to find a peaceful resolution while saving time, money, energy, and relationships.
Mediation. What is it?
Mediation is a formal negotiation between two consenting parties engaged in a dispute. Through this process, both parties meet outside of the courtroom to resolve their issues with their personal attorneys and a professional independent negotiator known as a mediator. Each party has the opportunity to present their argument in a structured and confidential negotiation.
During this process, the mediator may draft a Memorandum of Understanding. This document serves as a road map to guide both parties from their contested issues to a mutual agreement. It outlines the offer, consideration, acceptance, and intention to be legally bound. This is not a legally binding contract, however, but it is used to develop one.
Why Mediation?
This process is a more peaceful alternative to litigation that typically benefits all parties. Mediation is not about winning or losing, it is about communicating effectively to reach an agreement or compromise. In this way, the participants themselves have direct control over the outcome instead of a judge who would be responsible for a court decision.
Privacy is another benefit of mediation. Apart from a few exceptions, the majority of court documents are public record. In many cases where the courtroom is open, any evidence has the potential to become public knowledge. Mediation is confidential. With very few exceptions, nothing that is presented in mediation may be revealed or used by or against another participant should a resolution fail to be reached.
The costs required to reach an outcome are another factor to consider. While the total cost varies based on the length and complexity of mediation, the final expense is often far less than formal litigation.
When is Mediation Not an Option?
There are some situations when mediation is not an option. Timing is an important factor as both parties must be willing to negotiate before the process can begin. If mediation is proposed late in a dispute, one or more parties may be so entrenched in their position that they are unwilling to negotiate and a court decision becomes the only option. The number of parties involved may also influence the effectiveness of mediation. Estate disputes involving large families may be too complex to resolve through mediation alone and there is no guarantee that all parties will reach an agreement.
The attorneys at Gaslowitz Frankel have more than 30 years of experience with will, trust, and estate dispute resolutions. If you are going through a dispute and believe mediation could help, contact us today.
