Settlement Agreements

There is a reason why most civil cases do not go to trial. The cases settle, and the parties go their separate ways. Settlements might come in the form lump sum settlement agreements in personal injury or business contract cases, marital settlement agreements in divorces, an agreement between a decedent’s estate and a person claiming heirship or even an heir threatening to contest a will. For every type of civil lawsuit, there is some type of a settlement that might be reached.

Whatever the nature a case and its settlement agreement, that agreement should be carefully drafted by the Fairless Hills PA estate lawyers at the Olen Law Office. It must be in writing, and it must be read carefully and understood by both of the parties to the settlement. If it is not satisfactory, it can be rejected, and negotiations can continue. When the parties have reached mutually satisfactory terms, the settlement agreement should release the party who was allegedly liable from any and all known and unknown claims and not just one specific claim. It should be dated, signed by the claimant and witnessed or otherwise affirmed. It must then be delivered to the party who has been released. Without delivery, there is no settlement. Upon receipt of the executed settlement agreement by the party who has been released, full and prompt performance is required. That almost always entails payment of a specific sum of money.

Judges like settlements. They translate into one less case on their court call. Clients like them too. They’re a favorable alternative to the burden, expense and risks of litigation. The magic words contained in settlement agreements can make major problems vanish. Don’t even think about trying to draft or enter into a settlement agreement on your own. Contact the Fairless Hills PA estate lawyers at the Olen Law Office. You want your settlement agreement to last forever.

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