Understanding Legal Contingency Fees
When it comes to hiring an attorney, one of the foremost concerns for many people is the financial cost of legal representation, court costs, and other fees. Attorneys across the United States vary in how they manage their fee structures, with one of the most common structures being a contingency fee structure. Before entering into any contract or agreement with an attorney, clients should always be certain that they understand the fee structure and what to expect. Clients should also be forthcoming with any concerns they have regarding fees.
The Basics of Contingency Fees
Attorneys who operate on a contingency fee structure agree to accept a percentage of any monies recovered on behalf of the plaintiff, rather than establishing a flat fee for service. Contingency fee structures are designed to help clients focus on the case, rather than the cost of litigation. When an attorney agrees to a contingency fee structure, he or she acknowledges that they will not receive monetary compensation for their representation unless they obtain a settlement or verdict that is favorable to the client.
Benefits of Contingency Fee Structures
The primary benefit associated with contingency fee structures is that there is no risk to the client. If the case is unsuccessful, the client is not liable to pay the attorney for his or her time. Contingency fee structures help ensure that legal representation is available to most everyone, in a way that is affordable and secure. Clients can choose a law firm or attorney that suits their legal needs and their personal preferences, without having to settle for an attorney within their "price range".
Contingency fee structures also serve as an incentive for attorneys to fight for their clients and get the best results possible. This, in turn, reflects the benefits of attorneys focusing their practice on a specific area of the law. The more skill and experience obtained, the better the chances for a favorable outcome for the attorney and the client.
Contingency fee structures are particularly helpful in complex cases, such as personal injury, medical malpractice, or high-value disputes where there may be lengthy discovery phases and complex processes. Rather than estimate what the court costs and legal fees will be, the attorney and client agree to a flat percentage, usually around 20% to 45% of the total paid to the client. It is important to note that even on a contingency fee basis, clients may be responsible for court costs and filing fees.
Find the Right Legal Support
Regardless of the fee structure, one of the most important aspects of the attorney-client relationship is trust and confidence. Clients should always feel confident in the ability, experience, and representation provided to them. Any time there are questions or concerns, clients should be able to address them and get the support they need - especially when the concern is the financial stability of their family.
This blog post was submitted by Charles D. Brown, an experienced medical malpractice attorney in Houston, TX. Please click here to view his profile.