When Estate Beneficiaries Think They Have a Deal: are oral settlement agreements ok?
Probate beneficiaries and heirs at law often desire to resolve their estate lawsuits with a settlement, but is an oral deal a good road to go down?
Recent Oral Settlement Case in Palm Beach
- Palm Beach probate beneficiaries and others involved in probate litigation in Palm Beach County may wish to read a June 11, 2014 opinion from Palm Beach’s appeals court. This is not a probate case but it is a Palm Beach settlement agreement case.
- The case is Levi v. SPCP Group V, LLC and the Case No is 4D 13-2135
- A copy of the 4th District Court of Appeal decision is “linked” here in this West Palm Beach probate blog: http://4dca.org/opinions/June%202014/06-11-14/4D13-2135.op.pdf
Oral Settlements vs. Written Settlement Agreements
- Many times, family members and those involved in Palm Beach probates will ask their probate lawyers to see if you can settle differences
- That often makes sense since probate litigation has been described as expensive and frustrating
- In the Palm Beach probate courts, most of the probate judges will require the parties to attend mediation, in hopes of settling their inheritance disputes
- Any “deal” that you cut should be in writing: ideally (any settlement of the probate dispute should be in the form of a signed written probate settlement agreement)
When Settlements Are Oral
- Sometimes settlement agreements are oral–the parties to the probate or trust lawsuit agree right there in the probate court at the last minute: and they try to settle their estate lawsuit
- Many times, they put the probate settlement agreement on the record
- So, this recent case stands for the proposition that if the parties to a settlement agreement don’t agree on each material term: there’s no deal.
- So, you might wish to consider having a WRITTEN probate settlement agreement , but when you can’t, and if you are putting the probate settlement on the record in probate court, try to “hit” all the material terms.
- Knowing how to do this, and what you want to say on the record, and the questions which you may want to ask the parties, with a court reporter present are VERY important. You should know how to walk down that road to settlement if you are called upon to cut a probate deal orally, in open court.