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Family Trust Mediation
Disputes from family trust issues are traditionally resolved through legal proceedings. The lack of privacy in litigation, however, prompts individuals with a high net worth to seek other means of settling disputes over high value trusts. Mediation is an alternative to court proceedings. It works to provide an equitable resolution while avoiding the high cost and uncertainties of a trial.
Call Kanter Ostler Mediation today at (619) 304-2244 to schedule your mediation with our competent family trust mediatiors.
A family trust is established by a trustor so assets will be passed on to the children or other beneficiaries following his or her death. A family trust does not designate a surviving spouse as a beneficiary.
Trusts are formed to ensure the safekeeping of assets for the benefit of another person or party, often referred to as recipients or beneficiaries. After a trust has been created, it is the fiduciary duty of a trustee to act in the best interest of the trust and its beneficiaries.
What are the common types of family trust disputes?
Two types of disputes commonly arise in regard to family trusts. The first involves disputes due to beneficiaries disagreeing over the formation of the trust. The second is often due to the trustee’s mishandling of the trust.
Some other disputes that may also occur include:
- Whether the trustor was of sound mind when the trust was created
- Whether the trustor was influenced by fraud, or if a forged signature was used
- Whether threat or coercion was employed to form the trust
What are some of the remedies for family trust disputes?
Several remedies exist to resolve family trust disputes. Some vary in accordance with state laws. Minor disputes can be settled by the heirs coming to a majority vote. Major disagreements, however, may be settled in court or by using alternative dispute resolution methods that include arbitration and mediation.
Mediation is often recommended as a quicker and less costly means for resolving family trust disputes. Negotiations are formal and usually facilitated by experienced attorneys or ex-judges.
Court trials are usually a matter of public record. Trustees and beneficiaries usually want disputes kept private. Mediation thus presents a more private and confidential choice for negotiations, making it a better decision than litigation. Documents, decisions, and other private matters are held in strict confidence by the mediator and all parties involved.
Should I consult a lawyer regarding family trust dispute?
Family trust disputes are very complicated legal matters. You should consider contacting an estate attorney who is experienced and knowledgeable in trust laws. Make sure to hire a local lawyer. Disputes are oftentimes resolved using the laws of the state in which it is occurring.
A mediator must be skilled in facilitating communication between family members as well as experienced in property law or probate law. We provide this service at Kanter Ostler Mediation. We at Kanter Ostler listen to both parties in a dispute and help them reach a sound legal resolution built on the unique circumstances of their case.
Contact Kanter Ostler Mediation & Dispute Resolution
We want you to reach a successful resolution to your dispute today and help you avoid a costly and lengthy court battle later on.
Call Kanter Ostler Mediation today at (619) 304-2244 to discuss your case with our experienced family trust mediatior.