Disagreeing With Your Attorney About A Structured Settlement: Who Wins?
When a client and attorney disagree on a structured settlement, it can create a challenging situation. Here are some steps and considerations to navigate this disagreement:
Steps to Resolve Disagreements
Open Communication: The first step is to have an open and honest conversation about the reasons for the disagreement. The client should express their concerns and preferences, while the attorney should explain their reasoning and the potential implications of different settlement options.
Seeking a Second Opinion: If the disagreement persists, the client may consider seeking a second opinion from another attorney. This can provide a fresh perspective and help the client make a more informed decision.
Mediation: In some cases, mediation can be a useful tool to resolve disputes. A neutral third party can facilitate discussions between the client and attorney, helping them reach a mutually agreeable solution.
Reviewing the Settlement Terms: It's important for the client to carefully review the proposed settlement terms and understand the long-term implications. This includes considering factors such as the amount of periodic payments, tax implications, and the potential need for future financial flexibility.
Legal Advice: Ultimately, the client has the final say in whether to accept a settlement offer. However, it's crucial to weigh the attorney's advice and expertise, as they have experience in evaluating the strengths and weaknesses of the case.
Considerations for Both Parties
Client's Perspective: The client may have personal reasons for preferring a lump sum payment over periodic payments, such as immediate financial needs or concerns about future expenses. They may also have a desire for more control over their financial decisions.
Attorney's Perspective: The attorney may recommend a structured settlement based on their assessment of the case's strengths and weaknesses, potential jury outcomes, and the long-term financial security it provides. They may also consider the tax advantages and protection from mismanagement that structured settlements offer.
Legal and Ethical Obligations
Attorney's Duty: Attorneys have a duty to act in the best interests of their clients and to provide honest and competent advice. They must respect the client's decisions, even if they disagree with them, and ensure that the client is fully informed about the implications of their choices.
Client's Rights: Clients have the right to make the final decision regarding settlement offers. They should feel empowered to ask questions, seek clarification, and explore all available options before making a decision.
Conclusion
Disagreements between clients and attorneys over structured settlements can be resolved through open communication, seeking second opinions, and considering mediation. Both parties should strive to understand each other's perspectives and work towards a solution that aligns with the client's best interests.