Fees for Personal Injury Lawyers
There are many ways that personal injury lawyer can structure their fees. However, the most common way is by a contingency fee arrangement. This means that the lawyer will only get paid if the client is awarded money in a settlement or verdict award.
This payment arrangement is often a lot easier for people who have been injured to manage because it does not require them to come up with a large sum of money upfront. It can also give the attorney more motivation to work hard and get a positive result for their clients, as their compensation is directly tied to their success.
While contingency fees are the most popular payment arrangement for personal injury cases, not all attorneys use this method to calculate their legal services. Some may opt for an hourly rate instead, which involves the attorney charging by the amount of time they spend on a case. Other attorneys may charge a flat fee, which is a one-time payment for their legal services.
A third option is a hybrid contingency fee, which offers a combination of both an hourly rate and a contingency fee. For example, the attorney might bill an hourly rate to cover basic administrative expenses, such as long-distance telephone calls, copying costs, and travel expenses. On top of that, they might still take a percentage of the final verdict or settlement award.
How Are Fees for Personal Injury Lawyers Structured?
Regardless of the fee arrangement, all personal injury lawyers should be transparent about their rates and the ways that they will handle their client’s fees throughout a case. It is important for the attorney to spell out exactly how they plan on billing and what their fees will be in a written agreement with the client. This way there are no surprises down the road.
In addition to the attorney’s fees, there may be other legal fees or expenses associated with a case. These might include expert witness fees, court filing fees, deposition fees, travel expenses, and more. These expenses are commonly called “costs,” and they can add up quickly in a complicated lawsuit. Most personal injury attorneys advance all cost expenses and then deduct them from the final settlement or verdict award.
If the legal dispute proceeds to an appeal, additional costs are likely to be incurred. Appeals are more complex and involve extensive legal research and writing. The legal fees for an appeal are therefore often higher than those for a regular trial or settlement.
It is essential to talk with your attorney about the various fee arrangements that are available and choose an arrangement that suits your needs and budget. A good lawyer will be happy to discuss any questions or concerns you might have about the fees and costs for your case. You should never feel pressured to sign an agreement if you do not fully understand it or do not agree with it. You can always ask to have the contract or agreement explained again until you do so.
