Crafting Successful Settlement Agreements
November 10, 2020
Editor’s Note: The following column appeared in the November 2020 edition of Wisconsin Lawyer Magazine. To read the full article, please see link below.
Divorce lawyers have a saying that a bad settlement beats a good trial. If true, a good settlement beats all. Settlements are golden, as they allow creativity in developing a case-specific settlement plan, often including provisions that would not be ordered by a court if the case went to litigation.
This is particularly important in family law cases in which the parties will have a continuing relationship with one another, most commonly regarding children (minors and adults), but potentially including extended family, friends, neighbors, and more. However, this might also apply in partnership cases in which the partners are or were friends, in family-owned-business cases, and in business cases in which the businesses have strategic relationships with one another that need to continue.
Settlements have the potential to promote future peace and stability between the parties. When children are involved, settlements in divorce are particularly important because of the unique nature of co-parenting partnerships and the effects on the children.