Negotiating and Documenting Agreement - Part 3
This "How To" Series Guide helps to explain the steps involved in reaching settlement. You are reading Part 3 of 3 parts. If you would like to read Part 1 click here or Part 2 click here.
Step 2 - Negotiating
Parties negotiate directly or through their lawyers. This can be done at meetings or through email or letters. Where the relationship pool is not significant, I recommend people try to negotiate between themselves first to save legal fees.
Parties may also wish to have mediation, which means a mediator will facilitate the meeting.
If parties choose to mediate, it may be a good idea to each seek legal advice first and get a letter of advice, which summarises the facts of their case, the strengths and weaknesses of their claims, the options available, and the likely outcomes.
If parties choose to negotiate through their lawyers, this is usually done by way of a round table meeting.
Round table meetings can be an effective way to resolve relationship property matters where the parties are willing to engage in discussion in person through their lawyers.
Some key tips for negotiating on Property distributions
Step 3 – Agreement
Where a resolution is reached through negotiation, the final agreement must be signed and certified by the parties’ lawyers. The Agreement will usually contain standard clauses such as the following (examples only):
Step 4 – Settlement (After Agreement)
There will still be legal and financial steps to take to give effect to a Separation Agreement. When you sit down with your lawyer to receive advice on your proposed terms of settlement, it's a really good idea to ask them to help you prepare a list of what will need to be done.
Trish likes to do her thinking while she drives - what a perfect combination for a mobile lawyer!
This blog shares those thoughts.
Subscribe for more information and feel free to share your views.