What is a Settlement Agreement?

What is a settlement agreement and what should you know before signing a settlement agreement?

Attorney L. Reed Bloodworth is the managing partner of Bloodworth Law. Reed has offices in Orlando and in Winter Haven and handles estate and probate litigation and trust litigation throughout Florida working remotely for clients.

A major part of a Florida litigation lawyer’s job is to provide clients with a range of legal options in each case.

Some clients choose to be more aggressive than others. For example, a client wants to have a day in court at a trial.

While other clients prefer to end business, probate, or disputes as quickly as possible.

What is a Settlement Agreement?

Sometimes, a trust, an estate, or a business lawsuit can be resolved with what’s known as a settlement agreement.

An experienced litigator can help you to negotiate settlement terms, explain to you what the terms in the agreement actually mean (prior to you signing), and ensure that the settlement agreement is executed properly.

Did you sign a settlement agreement to end a recent Florida lawsuit? Or, has the other side complied with settlement agreement terms?

When people enter into a settlement agreement in Florida, they may fail to consider the possibility of the other side not complying with the agreed-upon terms. It does happen.

For example, in a settlement agreement, the other side may agree to give you $200,000 in exchange for you ending a lawsuit.

What Can You Do If You Don’t Get the Money?

So, what can you do if you dismiss your lawsuit, but the other side never gives you the $200,000?

Sometimes litigators will seek approval of a settlement agreement from the Florida court handling the lawsuit. That way, if a party does not comply with the settlement agreement, that party is in contempt of court and the court typically reserves jurisdiction to enforce the agreement.

This means that a motion to compel compliance with a settlement agreement can be filed against them in the Florida courts.

However, it is important to note that in some circumstances, the Florida trial court may lack jurisdiction, preventing you from being able to challenge earlier rulings.

Once a party to a Florida lawsuit voluntarily dismisses his or her case, the trial court lacks jurisdiction to do anything.

Likewise, once a voluntary dismissal occurs in a Florida lawsuit, no party may appeal a ruling of the trial court, since the Florida district court of appeal lacks jurisdiction to review the case.

If you’re involved in a business, probate or trust litigation case in Florida, you should consult with an attorney who is able to provide you with the full scope of your legal options  including the knowledge of what a settlement agreement is. And whether or not you may be facing a lawsuit.

Attorney L. Reed Bloodworth is the managing partner of Bloodworth Law. If you have questions about business, estate or probate disputes, give Reed a call and talk about how Bloodworth Law can help you, your business, or your family.