If you have been hurt in an accident in Las Vegas, you want to get as much of your settlement money in your pocket as possible. The amount your lawyer will take from the settlement depends on the specifics of your contingency fee agreement. The exact amount of your lawyer’s contingency fee depends on several factors.
Keep reading below to learn how contingency fees work and how much your lawyer may take from your settlement.
How Do Contingency Fees Work?
Contingency fees are legal fees for an attorney’s services that are dependent upon the outcome of the case. If the lawyer does not win the case, they will not receive a fee. If they do win, they will take their fee as a portion of any money they recover for the client.
Contingency fees are commonly used in personal injury cases. This type of fee structure provides an injured victim with access to legal representation, even if they do not have the financial resources to pay a lawyer upfront.
Factors Affecting the Amount of Your Contingency Fee
Several factors can influence the fee amount in your case. While a fee of one-third of the settlement amount is fairly standard, that number can differ.
Some of the factors that will affect how much of your settlement your lawyer keeps include:
The Complexity of the Case
More complex cases usually require higher fees. Higher fees are often common in cases involving multiple defendants, questions of liability, or catastrophic injuries. Lawyers may charge higher fees in these cases because they are more difficult to win and they require more of the lawyer’s time.
Additionally, the lawyer may need to utilize experts or other resources to assist in building these cases.
Your Lawyer’s Experience
You often hear the saying, “You get what you pay for.” That old adage is often true in the legal field as well. Experience usually comes with a higher price tag, and lawyers with extensive experience in personal injury law may charge a higher fee than those just starting out. The cheapest option might not always be the best route to take.
Furthermore, lawyers with a proven track record may be able to charge higher fees. For instance, if a lawyer has won 99% of their medical malpractice cases, they will likely charge a higher fee than someone who has only won 80% of their cases.
Whether Your Case Settles or Goes to Trial
Whether your case goes to trial has a significant impact on the percentage your lawyer will keep. Most contingency fee agreements stipulate that the fee amount will increase if the case proceeds to trial. Preparing for trial requires a significant amount of time and effort, so the increase in the fee amount compensates the lawyer for their additional work.
Additionally, the lawyer assumes a significant portion of the risk when a case proceeds to trial. You never know what the outcome of a trial will be, so the lawyer could find themselves getting no fee at all if the jury decides not to award you any compensation.
How the Settlement Disbursement Process Works
Once your case is settled, you may wonder how you will receive your money. The settlement disbursement process usually follows these basic steps:
- The insurance company or defendant sends the attorney a check for the full settlement amount.
- The attorney deposits the check into their trust or escrow account.
- The attorney deducts the amount of the legal fee.
- The attorney deducts the amount of case expenses, such as experts, medical record costs, or deposition costs.
- The attorney writes you a check for the remaining balance.
The timing of this process can vary from a few days to a few weeks, depending on the amount of the settlement, whether any liens were placed on the case (such as health insurance reimbursement), and bank processing times. Your lawyer should provide you with a final settlement statement that breaks down all the amounts deducted from your settlement.
Contact De Castroverde Accident & Injury Lawyers for a Free Consultation With a Las Vegas Personal Injury Lawyer
Were you injured in an accident in Las Vegas, NV? Get clear answers on contingency fees and what you’ll take home—before you sign. Contact De Castroverde Accident & Injury Lawyers for a free, no-obligation consultation with a Las Vegas personal injury attorney.
We have three locations in Nevada for your convenience, including Las Vegas, Summerlin, and Henderson. We’re proud to serve Clark County and the surrounding areas.
De Castroverde Accident & Injury Lawyers – Las Vegas Office
1149 S Maryland Pkwy, Las Vegas, NV 89104
(702) 222-9999
De Castroverde Accident & Injury Lawyers – Summerlin Office
410 S Rampart Blvd, Ste 480 Las Vegas, NV 89145
(702) 964-1806
De Castroverde Accident & Injury Lawyers – Henderson Office
9555 S Eastern Ave, Las Vegas, NV 89123
(702) 800-3455
About the Author
Alex De Castroverde earned his law degree from Nova Southeastern University Shepard Broad College of Law and is licensed to practice in Nevada. He is a dedicated trial lawyer who assists clients across Las Vegas in a wide range of legal matters, with a focus on personal injury. Alex has successfully represented clients in cases involving car accidents, catastrophic injuries, truck accidents, motorcycle accidents and more. Click here to learn more about the outstanding case results Alex has achieved for his clients.
