Mediation is a conflict resolution process in which an impartial third party, known as a mediator, facilitates communication between disputing parties to help them reach a mutually acceptable agreement. Unlike a judge or arbitrator, the mediator does not have the authority to make binding decisions; instead, their role is to assist the parties in exploring their interests, clarifying misunderstandings, and generating options for resolution.
In the context of estate planning, probate, and business law, mediation can be particularly useful in resolving disputes over wills, trusts, and business agreements. For instance, if family members disagree on the distribution of assets from an estate, a mediator can help them negotiate a settlement that respects the wishes of the deceased while addressing the concerns of all parties involved.
Mediation is generally preferred for its cost-effectiveness, speed, and confidentiality compared to litigation. It allows parties to maintain control over the outcome and often helps preserve relationships that might be damaged through adversarial processes.
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