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Locke Meredith emphasizes the importance of never signing a settlement document without first consulting with an attorney. He advises that knowledge is power and urges individuals to understand the consequences of signing such documents. Once signed, individuals no longer have rights to file a lawsuit and may have obligations to fulfill. Therefore, it is crucial to ensure full compensation and understand all obligations before signing. Meredith's legal advice is to always seek legal counsel before signing a settlement document to protect your rights and interests.