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Using arbitration to resolve trust disputes

28 February 2019 | 2 minute watch

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Using arbitration to resolve trust disputes
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Using arbitration to resolve trust disputes

​​​Note: We have provided a transcript of the discussion in this video if you are unable to watch the video version. This transcript is generated using a combination of speech recognition software and human transcribers and may contain errors.

Steven Kempster (00:10): Families who've got their wealth in trusts are worried about breaches of privacy and when disputes occur related to a trust there's always a risk that private information is going to hit a public domain in the court system, or be communicated to third parties and there could be some real horror stories in the family's past that emerge in the course of the proceedings.

Hussain Haeri (00:30): So one of the most popular means of resolving disputes is arbitration and that's become extremely prevalent for commercial disputes. One of the real benefits of arbitration is confidentiality and that of course is particularly interesting when it comes to trust disptes where publicity issues are very sensitive and where there's a real benefit of having confidentiality. 

Steven Kempster (00:56): The perceived problem with referring trust disputes to arbitration has been making sure that all the beneficiaries are bound into the dispute and bound into the clause because beneficiaries are rarely, signing up to the trust document.

Steven Kempster (01:10): The ability to refer trust disputes to arbitration can give families more confidence that when they're using those structure any disputes are going to be keeping their family affairs in the private, and that's going to give people much more confidence in putting their assets into family trusts for the future management control, and the tax benefit that those trusts can offer.

Hussain Haeri (01:34): So we really have this universe of contentious trust specialism and also a universe of arbitration specialism and what we're doing is bringing them together very carefully, and very holistically so that we can offer clients an integrated solution that meets their needs for arbitration of trust disputes.

When you hold your wealth in a trust and a dispute arises, the possibility that your personal information may become public either through the court system or third parties can be a daunting prospect.

Our leading trust disputes and arbitration specialists, Steven Kempster and Hussein Haeri, explain how using arbitration in trust disputes can give you reassurance that your private information will be protected.

​​​Note: We have provided a transcript of the discussion in this video if you are unable to watch the video version. This transcript is generated using a combination of speech recognition software and human transcribers and may contain errors.

Steven Kempster (00:10): Families who've got their wealth in trusts are worried about breaches of privacy and when disputes occur related to a trust there's always a risk that private information is going to hit a public domain in the court system, or be communicated to third parties and there could be some real horror stories in the family's past that emerge in the course of the proceedings.

Hussain Haeri (00:30): So one of the most popular means of resolving disputes is arbitration and that's become extremely prevalent for commercial disputes. One of the real benefits of arbitration is confidentiality and that of course is particularly interesting when it comes to trust disptes where publicity issues are very sensitive and where there's a real benefit of having confidentiality. 

Steven Kempster (00:56): The perceived problem with referring trust disputes to arbitration has been making sure that all the beneficiaries are bound into the dispute and bound into the clause because beneficiaries are rarely, signing up to the trust document.

Steven Kempster (01:10): The ability to refer trust disputes to arbitration can give families more confidence that when they're using those structure any disputes are going to be keeping their family affairs in the private, and that's going to give people much more confidence in putting their assets into family trusts for the future management control, and the tax benefit that those trusts can offer.

Hussain Haeri (01:34): So we really have this universe of contentious trust specialism and also a universe of arbitration specialism and what we're doing is bringing them together very carefully, and very holistically so that we can offer clients an integrated solution that meets their needs for arbitration of trust disputes.

This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.

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