Providing for a Lawyer's or Other Adviser's Review
If your dispute involves significant amounts of money or property, or may limit important legal or financial rights (for example, your right to a job, a patent, or a big tax refund), you should consult a lawyer or another professional before signing the agreement.
In some situations, it may make sense to have a piece of property that’s central to the dispute (for example, land, a painting, or a business) appraised before signing off. You don’t want to pay $100,000 to buy your partner’s half of a business that you think is worth $200,000, only to later discover that its value is much lower. Similarly, if property is to be exchanged under your agreement, particularly if it has gone up in value, you may need to consider tax issues. If you need any kind of expert help, ask the mediator to insert a clause in the agreement making your signature conditional on review by a lawyer or other expert or adviser. The clause could read as follows:The terms of this agreement will go into effect five business days after the parties sign, unless the attorney (or CPA, appraiser, or other adviser) for either party notifies the [mediation service] in writing of objections.
The “adviser’s review” clause can also provide a longer period for review or state that the agreement will not become effective until cosigned by the adviser. Bear in mind, though, that the longer you delay making the agreement effective, the greater chance there is that the other party will experience buyer’s remorse and decide to back out of the deal.
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More on the topic Providing for a Lawyer's or Other Adviser's Review:
- Providing for a Lawyer's or Other Adviser's Review
- Table of Contents
- Stage Five: More Joint Negotiations
- Private Divorce Mediation
- Using a Lawyer in Mediation
- Stage Six: Closure
- Review Paperwork
- Who Should Attend the Mediation
- Choice
- Sources of law and legal traditions