If you are facing a legal dispute, youmay want to consider alternative dispute resolution. The process can often be a faster and more cost-effective way to resolve disagreements – whether they be over the execution of a will or how your partner wants to run a shared business. But what type of alternative dispute resolution should you choose? Here’s a closer look at some of the options you may have available:
Related Article: Alternative Dispute Resolution: When Is It Beneficial?
Three Types Of Alternative Dispute Resolutions
Alternative dispute resolution usually involves one of three options: mediation, arbitration, or collaborative law. Each has its own benefits and drawbacks, to consider. Here’s a closer look:
Mediation
The most commonly-recognized form of alternative dispute resolution, mediation relies on a neutral third-party mediator to facilitate a solution. This individual works with both parties to find a mutually acceptable outcome on which the parties agree. . One unique benefit to mediation is that statements made during this process are not usually admissible as evidence if the dispute proceeds to trial. A successful mediation is also likely to cost far less than litigating claims in court.
Arbitration
Arbitration is when you make a formal submission of a dispute to a neutral third-party who acts as a judge and agrees to accept that person’s ruling on your case, regardless of the outcome. Unlike mediation, which provides the option of proceeding to court if the parties do not agree, an arbitration ruling is a final verdict that is legally binding. Why choose this option if it gives you less influence on the outcome? Because unlike litigation, arbitration is done privately, can be completed in less time and at far less cost than traditional litigation.
Collaborative Law
Collaborative law is similar to mediation, but instead of using a mediator, each party chooses a legal representative to help negotiate on their behalf. If, at the end of the process, a resolution is not found, those involved still have the option to walk away or pursue other legal avenues. This approach to alternative dispute resolution is more common in divorce cases than estate or trust litigation.Related Article: Best Methods of Dispute Resolution for Will and Trust Disputes
Alternative Dispute Resolution With Gaslowitz Frankel
Here at Gaslowitz Frankel, our goal is always to advocate for the best outcome for our clients. The key to a successful outcome regardless of the path you choose to take is connecting with an attorney from the very beginning.
If you are seeking help finding a resolution for a dispute, we’re here to help. Contact us by filling out our contact form for a free consultation about your case.
Fill out our contact form for a free consultation.
