Factor in the risks and costs of not settling your case

When you are in settlement discussions, you have a lot of factors to consider.  One of which is the cost of  not settling your case.  As I always tell most of my clients, do not assume the other side with pay your legal bills.  Think about your best case scenario.  What will it cost to get there?  $10,000?  $20,000?  $50,000.  Thus, if you can boil your best case scenario down to a dollar figure, subtract it by what it will cost to get there.   How does that compare to what is on the table?  Once you factor that in, the numbers may get you much closer to a settlement.

Besides the cost of the trial, what is the cost of losing?  Take the same costs that you used above and now subtract that from your worst case scenario.  Looks real ugly huh?  Not only did you lose but it cost you a fortune to get there.  What will it cost you over time to live with those results?  How does that compare to what is on the table? 

Money isn’t everything

Besides money, is a trial really worth the stress and bad blood that it will create?   Is that what you really want out of life?  Would it be better to give up a little and have everything done or would you rather risk a ton of money and incur a lot of stress and time away from the rest of your life be dragging out the litigation?  Take a step back and determine what really makes you happy in life.

Advertisements

Posted on July 20, 2010, in Articles and tagged . Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: