The Florida Supreme Court, which governs the behavior of attorneys in the state, can establish a portion of the attorney’s fee in a contingency fee personal injury case. If the matter is settled before the defendant files a response to the complaint, an attorney can only charge a fee of one-third of the first $1,000,000.00 in gross profits of recovery. If the matter is resolved before or after a lawsuit is filed but before the defendant submits an answer to the complaint, a $60,000.00 fee will be assessed.
This does not include any expenses spent by the lawyer in providing the service. Regardless of how long the case takes to trial, an attorney’s fee cannot exceed 40% of the first $1,000,000.00 of a client’s settlement. The maximum percentage charge is decreased when recovery of $1,000,000.00 or more is made. A personal injury attorney may agree to take a lesser portion of the settlement than is permitted by law. If the case is exceptionally tough (proving culpability or damages will be difficult), or if the amount of money obtained does not look to be large, a lawyer is unlikely to cut their fee.
You may be inventive with your attorney’s fees in your personal injury lawsuit. We’ve worked out pricing agreements with our clients that were cheaper than the regular cost on several occasions. This has been beneficial to both of us. To avoid penalizing the client for engaging us, a client who sought to settle a matter on their own and obtained a $3,000.00 offer that they refused may agree to accept just one-third of any sum over $3,000.00 that we acquire. We are hesitant to accept those terms if a lawsuit is required to collect more than $3,000.00. As a result, recovery of more than $3,000.00 is quite doubtful in this instance.
Another instance of inventive legal fees is when we feel the case is weak. We may waive our fee on the amount the client was offered by the insurance company if the client agrees to pay part or all of the court costs, such as filing fees and court reporter fees. Filing and service of process fees in Florida can be as much as $500.00 depending on where you reside. If the client covers part or all of the costs (usually in automobile accidents or slip and fall cases), a smaller percentage or no charge will be provided to the client before we get engaged in their case. If the lawsuit is very significant and a large settlement is predicted early in the process, we may offer to accept a lesser attorney fee. We may offer to work for a smaller contingency fee than is normal in some instances. We determine whether or not to take less than the regular charge on a case-by-case basis.
What exactly is a ‘Contingency Fee’?
Personal injury attorneys are often compensated on a contingency basis. A client and attorney will agree on a predetermined percentage charge called their contingency fee before beginning legal action or settlement discussions. The percentage is subtracted once financial recompense has been attained. When a client and a legal firm agree to work on a contingency basis, they put it in writing. The ultimate settlement amount will be determined by the court or a settlement agreement signed by both parties. There is no typical settlement since each case is unique.
Regardless of the amount, your law firm will bill you on a contingency fee basis. Your recuperation will be split into thirds or 33.3 percent. Only in unusual situations may the client’s attorneys consent to a no-fee case. This is referred to as a “pro bono” case in the legal world. However, this is typically only the case if the attorney has built a reputation for successfully managing your case. At The Law Place, the cost of your legal help is set by a contingency fee. Until you pay us, no money enters our bank account. We will go over our price structure in detail with you during your first consultation. All contingency fee schemes are closely monitored by the Florida State Bar Associations.