Most people know that litigation takes a lot of time and money. As a result, it is common to seek alternative methods to resolve lawsuits. Mediation is a frequently used method of alternative dispute resolution. With mediation, the two parties come together to discuss their differences and hopefully reach a settlement on some or even all of the issues involved in their lawsuit. Mediation can be an essential tool to help resolve all types of civil lawsuits, ranging from real estate disputes to custody issues. If you are involved in an estate dispute, mediation could help you to resolve the issues in your case.
One of the common ways that mediation can play a role in estate disputes is when the parties dispute the way an estate is to be divided. For example, a last will and testament may say the estate is to be equally divided, but fails to give further details. It is not unlikely that a dispute may arise between the four beneficiaries about exactly what constitutes an equal division between four people of the value of the estate. This is especially true when the estate is made up of assets such as real estate, intellectual property, or other assets that do not have an easily identifiable value. Mediation can help the litigants to come to an agreement of the value of the assets.
Another way that mediation may help your case is if there is an argument about whether or not a person is a person who stands to inherit. Wills can unfortunately include very vague terms concerning inheritance. For example, it could say “my niece inherits if she has done well in school.” Mediation can help the parties come to a settlement about what “well in school” means and how much that niece could inherit.
Mediation can also help resolve your estate dispute if there have been multiple marriages and children from some or even all of those marriages. It is not uncommon for people to forget to update their wills after they remarry. Mediation helps resolve issues created by remarriages and multiple children from multiple relationships.
Let us help you understand the probate process. Call today at (320) 299-4249 for a consultation.