The Benefits of Working with a Lawyer on a Contingency Fee Basis
- Redaction Team
Legal processes can be lengthy and complex, especially when they revolve around wrongful death cases, thus requiring a significant financial commitment.
Fortunately, most law firms offer contingency fee arrangements. When the parties agree to work on a contingency fee basis, the lawyer is only paid if they win the case or secure a decent settlement for their client. The average contingency fee percentage varies based on the complexity of the case and the severity of the injuries.
This model has several merits for clients seeking compensation and justice, which we are going to explore in this article.
1. No Upfront Costs
The lawyer’s fees are paid only after the money is received from the at-fault party. This means that a person who may not be able to pay the hourly rates of a lawyer will be in a position to hire one.
In some legal practices, the clients are often required to pay a retainer as well as make hourly payments. However, with a contingency fee agreement, the lawyer covers all initial costs and will only be compensated after a successful outcome.
This method is particularly helpful for clients who are burdened with medical bills, lost property, or lost wages, allowing them to restore their lives without paying their lawyer during the process.
2. Risk-Free Legal Representation
The contingency fee model can be said to be nearly risk-free for the clients since it is based on the grounds that clients do not pay any legal fees unless they win the case or receive some form of settlement. This helps clients save money.
Another advantage is that if the lawyer loses the case, the client does not have to pay legal charges. It is a structure that benefits the clients in a way that they do not have to spend a dime for an attorney who cannot provide results.
3. Motivation for the Lawyer to Win
As the lawyer’s fees in a contingency agreement is solely based on the fact that they win the case, they may be motivated to work harder on getting a positive outcome. This places pressure on them to perform and to research different ways that they can guarantee success.
The contingency fee structure makes sure that the lawyer’s ambition is a win for the clients, and vice versa. This is a way of making sure that both the lawyer and the client are fully committed to success.
4. Easier Access to Justice
The contingency fee arrangements help to provide equal justice to all, where nobody is barred from seeking the services of a lawyer just because they cannot afford to raise the required legal fees. This is especially true in cases where the clients are likely to be the victims of negligence, wrongful death, or discriminatory actions, and they cannot afford an attorney.
5. Contingency Fees are Transparent
Contingency fee arrangements are often transparent and clear, with both the client and the lawyer having a prior understanding of the percentage of the settlement or the charge that is to be paid to the lawyer. The rates can be as low as 25% to a moderate high of up to 40%.
The lawyer’s fee is presented clearly in the contract, which means that there won’t be any surprises for the client at the end of the case.
6. Lawyers Tend to Be Selective with Cases
Due to the fact that lawyers working on a contingency fee arrangement depend on their victories to get paid, they are often very picky about the cases they handle. This is a good sign for clients in the end since it shows that the lawyer has confidence in the case and their ability to defend it in court and obtain fair compensation.
Conclusion
Working with a lawyer on a contingency fee agreement offers numerous benefits, including minimal to no upfront costs or greater access to high-quality legal assistance.
Hiring a lawyer on a contingency fee basis offers numerous benefits, including no upfront costs, risk-free representation, and greater access to high-quality legal help. This arrangement ensures that the lawyer is motivated to win your case and secure the maximum compensation possible.