A lawyer’s contingency fee is a fee arrangement commonly used in personal injury and other civil litigation cases. It allows clients to hire a lawyer without paying any upfront fees. Instead, the attorney’s fees are contingent on the outcome of the case according to a personal injury lawyer with our friends at Kiefer & Kiefer. Here’s how it works:
Initial Consultation: You’ll typically start with a free initial consultation with the attorney. During this meeting, you’ll discuss the details of your case and determine if the lawyer is willing to take it on a contingency fee basis.
Agreement: If the lawyer agrees to handle your case on a contingency fee basis, you’ll sign a formal fee agreement. This agreement outlines the terms of the arrangement, including the lawyer’s percentage fee, any costs and expenses that may be deducted from the recovery, and other relevant details.
No Upfront Fees: With a contingency fee arrangement, you won’t be required to pay any upfront attorney’s fees. The lawyer will cover the costs associated with your case, such as court filing fees, expert witness fees, and investigation expenses.
Percentage Fee: If your case is successful, and you receive a settlement or judgment, the lawyer will receive a percentage of the recovery as their fee. This percentage typically ranges from 30% to 40% of the total amount awarded. The exact percentage can vary depending on the complexity of the case, the jurisdiction, and the lawyer’s experience.
Costs and Expenses: In addition to the contingency fee, any costs and expenses incurred during the case will be deducted from the settlement or judgment amount. These costs are typically reimbursed to the lawyer for expenses like court fees, medical records, expert witnesses, and more.
No Win, No Fee: One of the significant advantages of a contingency fee arrangement is that if your case is not successful, you don’t owe the attorney any fees. The lawyer takes on the risk of not being paid unless they win the case for you.
Settlement or Judgment: If your case is resolved through a settlement or a successful court judgment, the attorney’s fees and expenses will be deducted from the final award, and you’ll receive the remaining amount.
Contingency fee arrangements can make legal representation accessible to individuals who might not otherwise afford it, especially in cases involving personal injury or wrongful death, where clients may be dealing with financial challenges due to medical expenses and lost income. When searching for an attorney to represent your case, be sure to verify with them how they expect to be paid. If an attorney says they need a retainer, you can sometimes chat with them about your situation to change that for a contingency fee. It is important to speak with legal counsel to see what your options are both legally and financially to ensure that you get the representation you deserve. Reach out to a lawyer located near you today for help on your case, and remember to discuss their fee structure so that you are prepared ahead of time for payments.