Who foots the bill for legal costs on a settlement agreement?
Why do I need legal advice? is a question you might be asking yourself if your company has recently offered you a settlement agreement. Likewise, “What are the legal costs on a settlement agreement??” must be another question.
We suggest you get independent legal advice from employment law advisers to know more about the contract of Employment and employment rights act. In order to assist you, we have put together the blog below to address these questions and clarify some of the procedures related to settlement agreements. We encounter these inquiries frequently in our field of work.
Why do you need a solicitor for a settlement agreement?
Legal counsel is required while negotiating a settlement agreement; otherwise, your settlement agreement will not be enforceable.
You must get expert legal counsel because a settlement agreement is a legally enforceable contract between you and your employer, eliminating your right to file a lawsuit against them.
In addition to being a legal requirement, getting assistance from settlement agreement lawyers can help you cope with an already challenging circumstance and ensure that a favourable agreement can be reached.
You should seek legal counsel before signing a settlement agreement for the following top three reasons:
- The agreement is not legally binding unless legal advice is present
Laws are in place to protect employees from giving up their rights without completely knowing them, and if you sign a settlement agreement without a legal advisor present, you risk not fully comprehending the employment-related claims and provisions, which could make your settlement agreement unenforceable.
- Settlement agreement employment solicitors can help you to achieve the best outcome
You may be presented with a settlement agreement from your employer that has a variety of various conditions and offers. Your settlement amount can be determined by working with a settlement agreement lawyer, who will take into account your annual income, monthly take-home pay, notice period, and factors that led to the termination of your employment.
- Avoid unnecessary taxation on legal fees
Even though settlement agreements may be the best method to receive the money you are due from your employer, they may not always be the most tax-efficient way to do so.
Are employers legally required to pay legal costs for settlement agreements?
As part of the settlement agreement, your employer will often be responsible for covering the costs associated with the legal counsel.
As was already indicated, a settlement agreement benefits your employer because it prevents you from filing a claim against them and enables them to pay for you to obtain the required legal counsel.
What are the typical settlement agreement costs?
Usually, after we have the initial call, our team of settlement agreement solicitors may work within the fixed cost specified in your settlement agreement, ensuring you do not suffer any further fees.
Get legal advice on a settlement agreement from our solicitor
If you still have questions about how to obtain a settlement agreement, get in touch with our knowledgeable team of settlement agreement lawyers. With their years of experience, they can provide you with frank guidance throughout the procedure.
Call us at 0808 178 7292 to discuss your settlement agreement questions right now.
