Battle Born Injury Lawyers | May 23, 2023 | Personal Injury
A personal injury lawyer in Las Vegas makes money in one of two ways. Either they win a case in court, or they settle a personal injury case out of court. As such, many personal injury lawyers tend to charge a contingency fee, a type of payment structure that makes their payment dependent on the outcome of the case.
How Does a Contingency Fee Work?
If your personal injury lawyer wins your case, they will take a percentage of the total awarded amount as payment. The exact number they take will be communicated to you beforehand, so there won’t be any surprises. After you agree to retain them, your lawyer will present you with a contingency agreement that you will need to sign before they represent you.
What if Nothing Is Recovered?
In the event that no money is recovered from a settlement or judgment, you will not be indebted for attorney’s fees. The contingency structure makes the agreement more beneficial for both the lawyer and the client in need of their services. For the client, in particular, such an agreement is advantageous because they do not necessarily know what the outcome will be.
What Is the Average Percentage Taken by a Contingency Fee?
The final percentage that determines any contingency fee is dependent on the state the lawyer operates in, the type of case they are representing you in, and their overall pricing structure. The average contingency fee ranges anywhere from 33% to 40%, so always make sure to ask your lawyer about their pricing structure prior to hiring them.
Are Contingency Fees High?
Contingency fees may seem high, but the structure is designed to benefit the lawyer as well as their client. Whether you were in a car accident or are dealing with the consequences of a dog bite, winning your case means the percentage of the winnings you retain should be enough to cover your medical bills, treatments, and any related expenses.
On the lawyer’s side, they are facing uncertainty by representing you on a contingency basis as well, given that if they do not win, they do not get paid. In addition to the overall anticipation of the case’s outcome, the overall length of the case is uncertain as well, which means your lawyer could be representing you for longer than either of you intended.
When Is the Best Time to Talk About This?
The best time to discuss a lawyer’s contingency fee is before hiring them. Be honest and open about your expectations, and make sure to get the final terms of the agreement in writing.
Who Receives the Check?
When the payout comes, it will most likely be sent to your lawyer. Once they receive it, they will contact you and let you know it is in their possession. When you go to collect the check, the lawyer will likely discuss the amount they are deducting (though you should already be aware of the amount and have the agreement in writing).
Fees and Expenses
In addition to fees, lawyers will also deduct any expenses incurred as a result of researching your case, preparing your strategy, and more. These expenses are usually deducted from your winnings after the trial’s conclusion. Regardless, you and your lawyer will need to agree on the deduction terms prior to any casework being done.
Contact a Las Vegas Personal Injury Lawyer for Legal Help
Now that you know a little more about how personal injury lawyers get paid, you should have more insight into what questions to ask and a deeper insight into the potential costs of doing business. In the event of litigation, having a qualified personal injury attorney on your side can help you maximize the value of your settlement.
If you or a loved one were injured in an accident in Las Vegas and you need legal assistance, contact our personal injury attorneys at Battle Born Injury Lawyers and schedule a free consultation with our legal team.