How Lawyers’ Fees Are Calculated For Personal Injury Settlements

Lawyers’ Fees For Personal Injury

A good personal injury lawyer will help you get the insurance claim amount you deserve for the serious injuries you’ve incurred from a car accident, medical malpractice, or work mishaps. If the accident is due to the negligence of someone else, then your case justifies for full compensation.

During such times, you may wonder ‘Can I afford a lawyer and the legal expenses?’ If you’ve missed work due to hospitalization and there is an ongoing medical expense to consider, then you need to consider hiring a personal injury lawyer.

The Khan Law Firm handles personal injury claims on a contingency basis. The Seattle personal injury lawyers are competent to deal with complex cases and are committed to protecting their victims’ rights. They have been acknowledged several times for the best client satisfaction for the last several consecutive years.

These days, you don’t need to worry about paying upfront fees to the lawyer. However, lawyers offer a unique fee structure. Criminal lawyers get paid by the hour, starting with a retainer fee [down payment]. Attorneys specializing in family laws and real estate proceedings charge flat fees.

How much money do you get from your injury compensation?

The amount you get from your injury compensation will depend on:

● The medical expenses
● The percentage you agreed to pay for the lawyer’s fee
● Accumulated legal costs.

Legal fees vs. costs

Legal fees are the lawyer’s reward for representing you, which can be in the form of an hourly, flat fee, or percentage of total compensation they recovered. Legal costs are the expenses incurred during the process like filing fees, deposition expenses, hiring expert witnesses, hiring an investigator, travel expenses, etc. The legal costs and fees will depend on the case complexity and severity of the injuries.

For example, dog bite, slip & fall, and car accident cases often get settled outside the court. The attorney fees will be paid by the victim after considering the copy costs, medical expenses, and other small fees [like police reports].

The majority of states limit lawyer’s fees for defending Worker’s Compensation cases. Medical malpractice cases are the most expensive because the compensation can reach thousands of dollars.

The costs get deducted from the total settlement after the case is won, and before the lawyer’s fee is calculated.

Contingency fee agreements

Personal injury lawyers get paid when they help you win your case. Otherwise, you are not obligated to pay a single dime. Contingency fee agreements empower injury victims to hire an experienced lawyer to fight against the ruthless insurance companies and corporate giants.

The attorney will explain their fee structure, but it is your responsibility to review and understand the fee agreement before signing. It is not the legal fee that is large, but the medical liens and legal costs that bite your final payout significantly.

Payout clauses to consider cautiously

The agreement you sign will control the payout amount. Generally, the clauses in contingency fee agreement will cover

● The medical liens
● The cost deductions
● The net amount client will receive

Typical contingency percentage charged ranges from 25% to 40% of the total settlement after deducting the expenses. If there is a lawsuit, then the fee increases to 40% because extra time is needed. Many attorney hours are necessary to deal with months of trial and settlement negotiations.

Hiring a personal injury lawyer to represent your case is worth the amount you receive because the chances to win a fair compensation amount increases.