Benjamin Franklin famously said, "an ounce of prevention is worth more than a pound of cure."
In the context of estate planning, that ounce of prevention is having the difficult, but necessary, dialogues within the family about the estate plan and what happens as the parents age.
If you miss the present opportunity, and family affairs take their natural course, the next time the family participates in a mediation may be many years later, in an entirely different context. This time, the mediator will be trying to resolve expensive lawsuits brought by the heirs against one another. Even if the lawsuits are resolved, the damage done to the family and its relationships is often permanent and nearly impossible to undo.
Participating in mediation while estate planning does not prevent future litigation. If someone is intent on suing, they will. But mediation can substantially reduce the risk of heirs suing one another. Why? People who develop trust and understanding with one another also develop the emotional strength to have conversations that prevent lawsuits in the first place.
Let's talk about how we can help your family.
As I walked out the door toward the gate that would lead to my freedom, I knew if I didn't leave my bitterness and hatred behind, I'd still be in prison.
Estate planning raises many difficult questions for parents and can lead to rifts in future generations, especially if there is litigation amongst the heirs. Creating understanding can bring the family together and strengthen relationships. Our unique mediation process enables each family member to be heard and understood by others.
Personal relationships add many layers of complexity to the workplace of family businesses. Unfortunately, it often takes the equivalent of a volcanic eruption for the family to realize they need outside help.
Wealth bestows many privileges, but it can also lead to division and putting wealth over family. Real conversations give way to jockeying for position. Mediation creates a space for honest conversations that rebuild trust.
Whether parties realize it or not, personal emotions often drive their legal positions. By shifting the focus away from settlement, we help parties discover what is important to them and how to build bridges with one another.
This is the rarest of the five reasons to pursue mediation. Parties who understand this sentiment have the greatest likelihood of emerging from the conflict as stronger, more empowered human beings with a newfound ability to avoid future conflicts in the future.
Knowing all the facts would help estate planners create better trusts and help litigation attorneys more efficiently resolve family-related conflicts. Yet, the rules against conflicts of interests prevent attorneys from speaking with multiple family members to explore what each wants and what issues may be standing in the way. The next best solution, having each person hire their own counsel, is usually cost-prohibitive, unless the parties are already in litigation.
There is a better way. Our unique mediation services focus on creating understanding rather than the arm-twisting necessary to reach a settlement. Understanding can have profound impacts on a dispute. Once people realize where others are coming from, people tend to be more accommodating and compassionate with one another, which makes for better dispute resolution and win-win outcomes.