Navigating settlement agreements can feel overwhelming, especially when considering the terms and whether to accept an offer. The thought of legal costs can add to the stress.
At Lawhive, our skilled network of employment law solicitors is ready to assist you every step of the way.
The great news is that, in many cases, legal fees for settlement agreements will be covered by your employer.
In this article, we'll look at typical legal expenses associated with settlement agreements, including solicitors' fees, to provide clarity on the process and its implications for you.
How much do solicitors charge for a settlement agreement?
Solicitors fees for a settlement agreement vary depending on the services required.
Settlement agreements are often part of redundancy packages, provided by the employer to the employee being made redundant. Professional advice before signing is usually required, and employers commonly cover the cost.
Typically, solicitors review the agreement and provide legal advice to help employees understand its implications. Sometimes, they may also negotiate on behalf of the employee.
Employers' contributions toward solicitor fees vary but usually range from £200 to £500 plus VAT. If solicitor fees exceed this, they may request additional payment from the employer.
If you decide to negotiate with your employer, the costs of working with a solicitor might be greater and may not be covered by your employer.
What do settlement agreement legal fees include?
Usually, when you employ a solicitor to help with a settlement agreement they will:
- Review the terms of the agreement;
- Explain the agreement to you;
- Offer professional advice on whether the agreement is fair and reasonable, or if you could negotiate for more compensation;
- Explain the consequences of accepting the agreement, including any tax implications.
In some cases, you may decide you want to negotiate for more compensation and ask your solicitor to help with this. They can and will do this if you ask them to, however, the cost for this may not be covered by your employer and you will have to pay the difference either out of pocket or through legal expenses insurance if you have it.
Why choose Lawhive?
Lawhive's team of employment law solicitors has a proven track record of achieving favorable settlements for employees. Our secure online platform ensures a swift and dependable service accessible to all across the UK.
To begin, schedule your free assessment call with our Legal Assessment Team. They'll gather information about your case and pair you with the most suitable lawyer who can offer prompt and professional legal advice tailored to your needs.