It is a legal requirement to take legal advice on Settlement Agreements, even if you are happy with the terms being offered.
Legally, you must take advice as to the terms of the Settlement Agreement being offered, to ensure you understand the full extent of the rights and claims you are sacrificing. It is also to ensure that the package being offered suitably compensates you for your losses. Furthermore, Settlement Agreements tend to include legal jargon and a solicitor will be able to advise you in plain language the full implications of what you are being asked to sign.
The Settlement Agreement will not be valid without being signed by a solicitor or qualified legal adviser. All advisers must be covered by indemnity insurance.