Jun. 7, 2014
How, when to address taxes in mediation
If a complete settlement agreement must be signed before the parties have the time or expertise to consider tax issues, problems may arise.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
In mediation, you summarize your case and focus on key points. Each side tries to convince the mediator, who works on both sides. Some mediations end in full-blown settlement agreements. But in a majority of cases, the parties sign a term sheet at the conclusion of the mediation indicating that they have tentatively resolved the case for a specified payment.
The term sheet says the parties will cooperate to produce a final settlement ...
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