Should You Have an Arbitration or ADR Clause in Your Trust Charter?

Do you know the difference between a probate lawsuit and  Alternative Dispute Resolution (ADR)?Have you considered including ADR provisions in your trust documents? These may be able to save money for your trust down the road but you will want to know the pros and cons in West Palm Beach before you add them. 

What is ADR?

• Alternative Dispute Resolution is an umbrella term for ways to resolve a lawsuit outside of probate Court.
• Sometimes lawyers that specialize in drafting probate and trust documents include these but they are also found in other types of contracts.
• The basic idea is that the Court system is busy and overbooked so a private venue may be more efficient.
• Keep in mind though you will have to pay for ADR, in most cases by the hour.
• There are also different types of ADR with different benefits.
• Do you know what they are?

Arbitration

• Arbitration is by far the most common form of ADR.
• The American Arbitration Association is currently the big name in this form of ADR.
• Here is how it works, you appoint an arbitrator to act as a judge for you and the other parties in the dispute.
• From there the arbitrator will make findings that are often binding on the other side (and you).
• Then the findings will be forwarded to the Court to make them into law.
• What other forms of ADR may be available instead of a probate lawsuit in West Palm Beach?

Mediation

• Mediation is a very popular form of ADR in West Palm Beach.
• In fact most probate judges will order you to go through mediation as a prerequisite to having a formal trial in West Palm Beach.
• Mediators like arbitrators charge by the hour.
• So what is the difference?
• A mediator does not making binding findings of fact they merely attempt to mediate and settle disputes.
• What forms of ADR do you plan on including in your trust documents to make future disputes easier?
• Before you pick or let a legal services website choose for you, talk to an experienced Palm Beach probate litigator today.

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