Perhaps you are in the process of finalizing your late parent’s estate so you and your siblings can receive your inheritances. Of primary concern is how to preserve the estate should any disputes arise even though you know that you are to share the estate and assets in accordance with the testator’s final instructions or last will and testament. Mediation offers you and your family members the opportunity to resolve any outstanding differences to preserve your parent’s estate resources, time, familial bond and minimize probate involvement and legal fees.
Often times, disagreements are due to misunderstandings. When it comes to estate planning, particularly those involving a family business, emotions can tarnish everyone’s judgment and provide motivation for contentious behavior. Using mediation to resolve estate plan disputes helps prevent that.
Facilitates understanding and resolution
Mediators are neutral and have no vested interest in the mediations. Their sole role is to hear all sides and help all parties work things out in a peaceful and amicable manner. There is no conflict of interest so that all parties are more inclined to work towards a common goal and provide truthful and accurate information. Mediators help prevent ethical conflicts of interest and enhance understanding of complex estate plans.
Provides effective management for estate plan conflict
The mediation process for estate planning is completely transparent. Unlike litigation that yields public information about the estate and the family’s personal grievances, mediation helps to preserve the family’s privacy, which can be crucial during the grief process. Using collaboration to resolve estate plan disputes helps to protect all parties and enable reconciliation.