How Much Do Lawyers Take From Settlement?
If you are injured due to another’s negligence or a business’s failure to protect your rights, you should consult an attorney. Personal injury attorneys typically take one-third of the settlement amount as their fee. However, they can take up to 40%, depending on the circumstances of the case. Moreover, if you choose to go to trial, lawyers may take more from your settlement if the outcome is less than you expected.
The percentage a lawyer takes from a settlement will depend on the size of the settlement and the length of time it took to settle the case. It also depends on whether the attorney charges a fixed fee or charges on a contingency basis. You may not know how much the total attorney fees will be until you hire a lawyer. Some law firms offer a guided estimate based on similar cases and severity. However, extra expenses can come up during the case, making the total fee higher or lower than the agreed amount.
As a general rule, personal injury attorneys take approximately thirty percent to forty percent of the settlement. If the client receives a settlement of $33,000, the lawyer will take an additional $11,000 as his fee and the rest of the $22,000 will go to the client. This arrangement is also known as a contingency fee arrangement. A personal injury attorney may charge a higher percentage if the lawsuit reaches trial.