The State Bar of California requires attorneys to draft contingency fee agreements in writing, clearly outlining how their fee will be calculated as well as any expenses that might fall to clients’ responsibility, including interest on advanced costs.
Contingency fees make high-caliber legal representation affordable to those who otherwise couldn’t afford it, because their percentage-based structure ensures lawyers are motivated to win cases.
1. You don’t have to pay up front
Contingency fees offer both clients and attorneys advantages in case work. Contingency fees allow clients to gain legal help they might otherwise not afford while providing attorneys a way of making a profit on successful claims.
Lawyers determine their contingency fees according to several factors, including complexity and risk. For example, simple fender bender claims often have lower contingency fees than complex medical malpractice cases that require expert testimony. Furthermore, more costly cases often incur higher contingency fees.
However, attorneys must be transparent with regards to contingency fees and expenses that will be incurred so as to ensure clients fully comprehend their obligations and do not breach the attorney’s ethical duties by failing to inform their clients accurately of these agreements. Thus, before signing their contingency fee agreement with their lawyer it should always be carefully read through by clients before signing it.
2. You don’t have to worry about losing your case
Contingency fee arrangements can be particularly advantageous to clients under financial strain, as they allow them to hire legal representation without paying the higher hourly rates and upfront retainers required for hourly-rate attorneys. Before hiring any firm it’s wise to ask relevant questions regarding its fee structure in order to gain clarity regarding any applicable agreements or retainers that might apply – be sure to get clear answers.
Conduct some preliminary research to assess how your lawyer compares with other firms in your area when it comes to fees, so as to assess if you’re being overcharged for services you receive or being charged fairly for them. This step can especially prove useful if considering contingency for personal injury cases; find someone trustworthy who boasts good client reviews as this can give you more peace of mind that all goes according to plan.
3. You’re incentivized to win
Contrary to appearances, taking on a case without guaranteeing payment can actually be more advantageous than you realize. Without worry over hourly billing rates or getting reimbursed per case completed, lawyers are more motivated than ever before to work towards finding a successful resolution for your matter.
Contingency fee lawyers understandably take pride in only taking on cases they think they can win; because of this, they carefully consider all potential claims before accepting them for representation, ensuring only serious claims will be accepted and not wasted time with unwinnable ones.
This option can be especially beneficial to those unable to afford traditional attorneys, making access to legal services much simpler. Before making your decision, however, be sure to consult with a lawyer and find out their fees so you can make an informed decision and prevent any surprises further down the line.
4. You’re not stuck with a lawyer you don’t like
Working with a contingency attorney ensures you won’t be held hostage should your case not go as you’d hoped for. Furthermore, this arrangement reduces frivolous litigation since attorneys only get paid once their client wins or settles their claim successfully.
Contingency-based attorneys invest their time, resources, and expertise into every case knowing their success relies on it. This shared risk between attorneys and clients fosters open dialogue and greater advocacy than hourly billing arrangements can.
Selecting an optimal fee arrangement for your case is of vital importance, so take all considerations into account before making your choice. A reputable attorney will explain your options and assist in choosing an arrangement which best meets both you and your financial goals. Contact us now to arrange your free consultation!
