Coming to Terms with a Settlement

[Anonymous]

My father's estate included a business with 3 components.

One of the three components was involved with a lawsuit due to an unfortunate set of circumstances that led to a breach of contract which had a domino effect. My father's health was deteriorating, and he committed to a bigger project than he could handle. We had two excellent attorneys. The chance of winning at trial was about 40% - that's just their prediction. In the slim chance that we won the case, high likelihood of an appeals. The company was completely out of money. My brother and I would have had to tap into our emergency fund to pay for legal fees. We settled. The person who sued us agreed to buy the one component of the business at a bargain. Heartbreaking that all the money my father already invested into the business is out the window. The silver lining is that the two components of the business could be a sold in the near future at a profit, especially now that there's no more litigation.

It was the right decision to settle and be done with the lawsuit. However, we both feel guilty that my father's life savings went into this business, and we could not recoup that money. If we lost at trial, the entire business would have been in bankruptcy. We didn't want to use our saving to fund the litigation.

Trying to find peace with the decision we made.

[Anonymous]

This isn’t your fault. It was your dads decision to take on that project and it’s no one’s fault his health failed. Litigation is miserable. You did the right thing.

[Anonymous]

Based on the posted information, it appears that you won. Accordingly, I do not understand why you need to come to terms with the settlement as it seems clear that your dad was wrong to take on business that he couldn't handle.

[Anonymous]

Anonymous wrote:Based on the posted information, it appears that you won. Accordingly, I do not understand why you need to come to terms with the settlement as it seems clear that your dad was wrong to take on business that he couldn't handle.

This. I am so sorry for your loss, but looking at it objectively you made the best decision.

[Anonymous]

Until very recently I used to own an 8 figure business and still own some seven figures ones. I’ve been involved in litigation several times (never once because we actually did something wrong, but because people are nuts).

If I were your father I would have litigated it. But you aren’t your father. I would never expect my kids or spouse to litigate something like that. And they get my businesses if I die and sell them. I know that they aren’t me and I want them to do what is best even if it doesn’t maximize profits. Your father knew this as well.

Litigation is stressful. Running a business is stressful. I can promise you that your father would be fine with your decision.

[Anonymous]

There was a breach of contract. You weren’t a part of that. The business owed the damages. You figured out a way to avoid a total loss. You’re a hero. Own that.

[Anonymous]

All the candid feedback and insight is helpful and appreciated.

[Anonymous]

What is the purpose of money, after all? It can be used to buy things that make your life better.

Under the circumstances, the settlement was the path that got you and those you love to the best possible place.

[Anonymous]

You made the best decision with what was happening at the time. Your father would 100% understand. No question.

[Anonymous]

Your father made a mistake and he was sued. You managed to salvage a lot.

You should be celebrating, OP.

[Anonymous]

Agree with all the PPs. Litigation is incredibly stressful and this sounds like it could have gone on for years. Your father wouldn't have wanted for you to be burdened with that.

I'm so sorry for your loss OP.