Now What Happens? Addressing Contingencies to Mediation Settlement Agreements in Trust Cases
Three kinds of post-mediation clauses, for re-mediation, court action or arbitration, can provide confidence that, in the event of a "hiccup" based on unavoidable contingencies, the mediation settlement agreement can be mended and will ultimately hold.
September 30, 2024 at 11:02 AM
6 minute read
CommentaryRepresenting a client in a trust case? A signed mediation settlement agreement (MSA) needn't mean that your work is done. The requirement of a signed final MSA, while indispensable, nevertheless can present serious challenges where settlements regarding complex trusts frequently depend on nonmonetary conditions. These, in turn, bring into play post-mediation contingencies such as trust modifications, changes of trustee, appointment of trust protectors, representative protection or minors and the disabled, reallocation of trust assets, administrative approvals and tax opinion letters.
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