If you’ve been injured because of someone else’s negligence, you’ll need an experienced attorney to help you fight for the compensation you deserve. With a good lawyer, you won’t have to pay any costs upfront while you are unable to work.
Attorney’s who specialize in personal injury and medical malpractice law will not charge any fees unless your case is settled or wins in court.
What percentage do attorneys typically receive in a settlement? Keep reading to find the answer to this question and more.
What Percentage Do Attorneys Typically Receive in a Settlement?
How much money comes out of your injury compensation will depend on several things including the amount of legal costs you have accumulated, the percentage you agreed to with your attorney and your medical expenses.
Your legal fees can range in price depending on the complexity of your case and your injuries. Here are some of the types of cases attorneys who practice personal injury law will tackle.
- Slip and falls
- Dog attacks
- Work-related injuries
- Automobile accidents
Dog bite cases, car accidents, and slip and falls are often settled outside of court through the at-fault parties’ insurance. Cases settled directly with the insurance company may also have additional expenses to pay for things like police reports.
Workers’ compensation cases typically have more costs involved with them. Medical experts may be hired to give their opinion, especially if the insurance company is fighting the claim. Most states have limits on the amount lawyers can charge in workers’ compensation cases.
The most expensive types of cases are medical malpractice cases. These cases can result in compensation for victims ranging upwards of hundreds of thousands of dollars. They take more skill to argue and they could take a while to see results.
The Cost of Preparing Your Case
First, it is important to know the difference between personal injury lawyer fees and costs. Personal injury attorney fees are wages paid to the attorney and their team for the work they do on your case. The fee is paid on an hourly basis, as a flat fee, or as a percentage of the compensation they recover.
A cost is an expense that is incurred when working the case. Costs include copying services, court filing fees, paying expert witnesses, travel, and deposition expenses.
Costs are paid by your attorney while preparing and negotiating your case. Your legal costs can be high or low depending on your case and how complex it is. Costs are deducted from your total settlement amount after the case is won and before the percentage is calculated for legal fees.
Some attorneys may require you to pay a small deposit upfront towards the costs at the beginning. Later on, after your case is finished they will deduct the rest of the cost from the award.
Some attorneys include their costs in their hourly rate. Most personal injury and medical malpractice attorneys cover all the costs in advance and deduct them from your settlement or if you win your case at trial.
If your attorney doesn’t win your case, you don’t owe them for any costs associated with your case. Be sure to ask your attorney before you hire them how they handle costs if you win or lose your case.
Paying Medical Liens
Do lawyers get paid before medical bills? This is a question that is often asked.
Your attorney is legally required to pay all medical liens before you receive your award or settlement.
Medical liens are the payments you still owe medical providers and insurance companies as a result of your injuries. It’s also important to point out that some insurance companies do not cover costs associated with a car accident or workplace injury.
If you are on Medicare, Medicaid, or other government types of insurance your expenses will be covered with the expectation that they will be repaid under the state and federal laws.
What are Contingency Fees?
If you hire a lawyer that doesn’t get paid unless you win your case this is called a contingency fee agreement. You and your attorney have made a deal that if you lose you owe them nothing.
Contingency fee agreements make it easier for hardworking people to get legal representation against large corporate giants and insurance companies. This agreement will result in no or little charges to the client until the case is over.
A lot of people believe that contingency agreements are where the lawyer receives one-third of the settlement and the client receives the remaining two-thirds, but they are more complicated than this.
Medical liens and costs incurred by the lawyer can also take a bite out of your final payment. What percentage of a settlement does a lawyer get? Well, it’s a little bit different with every case.
Ask your attorney to explain exactly how their fees will be calculated before you hire them so it is not a surprise. Attorneys are legally obligated to explain their fee structure to you. Make sure you understand it before you sign anything.
Read the Payout Clause
The attorney fee agreement is a legal contract that tells the amount of your attorney’s fees and explains how expenses will be calculated and deducted. Once you sign the contract you are bound by its terms.
Hire an attorney is explains their fees an agreements in a way that you understand. Contracts are confusing for everyone, so be sure to ask questions. Take your time and read the contract all the way through.
You can even ask to take it home and read it overnight so you don’t feel like you are on the spot. As you are reviewing the contract write down any questions you may have or terms you want the attorney to define for you.
Pay close attention to the clause that talks about the payout. Typical clauses found in agreements cover the deduction of costs and medical liens.
Medical Malpractice and Personal Injury Attorneys
If you’re injured and are filing a medical malpractice or personal injury lawsuit it is important to know what percentage do attorneys typically receive in a settlement. Use these tips when choosing your attorney to help you find the attorney that is right for you.
Brian Cummings is an experienced litigator with over 20 years of experience in medical malpractice and personal injury cases. He has obtained over $25,000,000.00 for his clients in just the past few years.
Contact Cummings Law to discuss the details of your case today.
