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II Trust Arbitration at the Institutional Level, 4 ACTEC’s Simplified Trial Resolution Option with Model Laws and Clauses

Robert W Goldman

From: Arbitration of Trust Disputes: Issues in National and International Law

Edited By: SI Strong, Tony Molloy (Consultant Editor)

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 03 August 2020

Subject(s):
Arbitrability — Arbitral agreements — Arbitral tribunals — Arbitrators

This chapter considers various recommendations made by the American College of Trust and Estate Counsel (ACTEC) concerning trust arbitration. It describes ACTEC’s views about the need for and propriety of various types of internal trust arbitration. It discusses two model statutes to assist legislators considering statutory reform in this area of law. The first model makes arbitration clauses in wills and trusts enforceable and uses existing arbitration statutes to establish a default dispute resolution process. The second proposed enactment is longer and includes a standalone default process for resolving disputes. The chapter also presents several model arbitration clauses devised by ACTEC as a means of facilitating arbitration of certain internal trust disputes.

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