What Percentage of My Settlement Will a Lawyer Take

In personal injury cases, lawyers typically take 30% to 40% of a client’s settlement or award in court. This percentage varies depending on factors such as the case’s complexity, whether a settlement is reached before trial, and the stage of litigation. Unfortunately, most personal injury cases can be lengthy, complicated, and costly, making it impossible for many injured victims to afford upfront legal expenses.

The good news is that reputable Conway personal injury attorneys work on contingency. This offers injured clients the opportunity to have legal representation without worrying about how they can cover retainer fees or hourly rates. Below is an overview of how contingency fee agreements work if you haven’t discussed your case with a Conway personal injury lawyer because you’re worried about the legal fees or would like to know more about how contingency fees typically work.

How Exactly Does a Contingency Fee Work in Conway Personal Injury Cases?

When personal injury attorneys “work on contingency,” it means they get paid only if they win their case. Rather than charging clients flat fees, retainer fees, or hourly rates, they take a percentage of the client’s settlement or court award. Put simply, since your attorney’s fees are contingent on the success of your case, you won’t have to pay them anything upfront.

Let’s say the liable party’s insurer gives you a settlement of $80,000, and your lawyer’s contingency fee is 30% of your settlement. This means you keep $56,000, and you’ll give your attorney the remaining $24,000.

Factors That Will Impact Contingency Fee Agreements

Several key factors can significantly impact the percentage your Conway personal injury attorney will take from your settlement or award, including the following:

The Complexity of Your Personal Injury Case

More complex personal injury cases, like those that involve multiple parties and insurance companies, complex medical evidence, and expert witnesses, typically need more effort, time, and resources. Your attorney may charge a higher contingency fee to compensate for the risk involved and increased workload.

The Stage of Your Personal Injury Case

Your Conway personal injury lawyer may take a lower percentage if your case is resolved through a settlement. On the other hand, they may take a higher percentage if your case heads to trial because of the extensive work and resources involved in litigating it.

The Risks Involved in Your Personal Injury Case

Remember that your attorney is taking the risk of not getting any money unless they win your case. If your case is straightforward, your lawyer may charge a lower fee because they know they have a higher chance of winning your case. However, if your case is particularly complicated and challenging, your attorney may charge a higher fee to offset the risk they’re taking.

The Jurisdiction

Contingency fees may vary based on local regulations and laws. Some jurisdictions have caps on the contingency fee attorneys can charge, while others have room for some flexibility, depending on the circumstances of the case.

Seek Legal Guidance From Our Skilled Conway Personal Injury Lawyer Now

At the Law Offices of L. Morgan Martin, P.A., we believe our clients should be well-informed about their specific cases, the legal process, and their legal options. Learn more about how contingency fees work and how we can help you by scheduling a free case evaluation with our Conway personal injury attorney. Reach us online or at 843-248-3177 for more details.