Courts throughout California help people resolve all sorts of disputes. One of the most common disputes in courtrooms involves trusts. If you’re going through a trust dispute, there are multiple potential ways to resolve this matter. Sometimes, two parties choose arbitration. However, here are a few potential reasons to reconsider including an arbitration provision in your trust agreement.
Saving money doesn’t always happen
One of the main reasons why parties aim to resolve trust disputes through arbitration is to save money. In most cases, choosing arbitration is cheaper than the costs of going to trial. With that said, arbitration can cost more money than a lawsuit if an arbitrator pushes for long deposition and document discovery periods.
Giving an arbitrator too much power
Another problem that can happen during disputes related to trust administration is not having the right arbitrator. For instance, you wouldn’t want an arbitrator for your trust dispute who is unfamiliar with handling such cases. So, make sure you find an arbitrator who is familiar with and knowledgeable about disputes involving trusts.
Appealing a ruling you disagree with
It’s understandable to hope that an arbitrator will rule in your favor. Of course, that might not happen. If you disagree with an arbitrator’s ruling, in most cases, there won’t be a lot you can do to appeal this decision. Most states only overturn an arbitrator’s ruling if there’s evidence this person is guilty of corruption or another type of misconduct.
In conclusion, there are times when arbitration might not be the best way to resolve your trust dispute. Before you decide how to resolve a disagreement involving a trust, make sure to look closely over each of your options.