Settlement agreements are needed to memorialize the terms of settlements of matters that we handle for our clients. Such agreements are treated like contracts, so the drafting skills of the attorneys involved in the preparation of a settlement agreement are very important. We normally prepare our client's settlement agreements, although we are occasionally asked to review agreements that are prepared by the other party's attorney.
Our goals in preparing or evaluating a settlement agreement are to accurately memorialize the terms of the parties agreement, to address as many issues and contingencies as possible and to try to provide solutions to various potential future problems. Our clients always participate in the negotiation of settlement agreements. The terms and the effect of each of the settlement agreement provisions are explained to our clients in detail, as are the consequences of entering or not entering into the agreement.