Examining the Use of Arbitration and Dealing with Decedent’s Wishes in Wills, Trusts and Estates
This article examines the use of arbitration in wills and trusts as a method to honor decedents wishes. It explores the use of contracts drafted prior to the creation of a will or trust – referred to as a pre-drafting contract – as a method to allow for the inclusion of arbitration. The article also briefly discusses the use of in terrorem clauses – also known as disinheritance clauses – in wills and trusts. It suggests that in terrorem clauses can be detrimental and that the issues that can arise as a result of such provisions can be avoided by using pre-drafting contracts. Finally, the article suggests the benefits of using arbitration and pre-drafting contracts can include confidentiality, the ability to save time and money, and the ability to protect family relationships.