This guide provides tips on what an individual should consider after receiving a severance agreement from their employer.
Tip # 1 Do NOT Sign!
Never sign a severance agreement when you first receive it. The agreement must be broken down and understood by you so that you know what you are signing. Simple first step - don't sign yet. However - pay attention to any time limits in the contract. While you should not sign right away, you may not have a lot of time to accept the deal. After you receive the agreement, it should become your priority so move quickly.
Tip # 2 Read the Agreement
OK, you're probably not an attorney, but I still recommend taking the time to read the agreement yourself to at least get familiar with all of it's parts.
Tip # 3 Write Down Questions
Tip # 2 really folds into this tip - write down questions that come to mind after you review the agreement. This will allow you to have a focus for when you discuss the agreement with a professional.
Tip # 4 Let an Attorney Review Your Severance Agreement
This is the most important tip - you want a trained professional to review the contract for you to explain what rights you are waiving. These contracts typically pay you a set amount of money in exchange for you giving up your rights to specific employment law lawsuits. Your best chance of protecting your rights will be if you let a professional explain the contract to you and answer all of your questions from Tip # 3.
Tip # 5 Make an Informed Decision
Once you fully understand what the "deal" being offered truly is, you can decide for yourself if you should sign. Depending on your attorney's analysis, you could have claims worth more than the money being offered. You can make this decision with confidence after you have listened to an attorney's advice and asked all of your questions or concerns.
DISCLAIMER - I AM NOT YOUR ATTORNEY
I hope this guide has been helpful, but just because you read it does not make me your attorney. These tips are for simple general research. If you find yourself with a severance agreement or any other work-related legal claim, you must formally meet with and discuss your specific case with an attorney. Every case and every contract is different and using internet forums like this is only to give you some ideas - not to be relied on as legal advice. I have not provided any legal advice to you and there is NO attorney-client relationship between us. Also, I am only licensed in the State of Florida so if you are in another state, this information may not be applicable.
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