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What is a contingency fee?

FAQs • Apr 10, 2021
post about What is a contingency fee?

A contingency fee has been described as the “keys” to the courthouse. They can help clients who might not otherwise afford an experienced attorney, to hire one. But a Florida client should know the ups and downs, pro’s and con’s. So, what is a contingency fee? For a FREE VIDEO on Florida Contingency Fees, CLICK HERE.

What is a contingency fee in Florida?

Will He Take My Case?

Hiring an attorney is tough.

After all, how do you know that she is competent and will work hard for you? But, that’s true of any service provider, right? I mean, whether you are hiring a dry cleaner, an architect or a lawyer, you do your homework.

But when it comes to Florida estates and trusts, some family members need a probate lawyer that they can’t afford.

In many instances, they need a lawyer who specializes in FLORIDA PROBATE LITIGATION. And, you know what I’m going to say next. Some clients want an experienced, smart, aggressive PROBATE TRIAL ATTORNEY. That’s understandable. But the traditional method to pay lawyers is expensive ! And those probate trials take time. With all the discovery, hearings, witnesses and evidence.

If there were only a way to hire a good probate litigator in Florida who would take your case and get paid later. That helps you start to understand what is a contingency fee.

Why a contingency fee?

Let’s define a contingency fee.

A contingency fee is when the Florida lawyer takes a % of your recovery or inheritance or damages which you may receive. If there’s no recovery, there’s no compensation due the lawyer. Although the client is reasonable for costs.

Costs are different than ATTORNEYS FEES or compensation. Some legal areas do not permit contingency fees. Like criminal law. But contingency fees are permissible in probates and estates and trusts in Florida.

Some of the advantages to a contingency fee arrangement is that the client does not have to pay a hefty retainer or initial fee which can run $15,000- $50,000. No monthly billings. No writing checks to your lawyers each month for thousands of dollars.

No recovery: no fee.

And trials are time consuming and expensive. With a contingency fee, a Florida client does not pay for the trial in the traditional way. For a lawyer’s time at her hourly rate. No billable hours. The client pays compensation for that trial if you win, or recover something. You share a percentage of your win or victory with your lawyer.

So, your lawyer has an incentive to work hard for you and try to win. That could be at a settlement or after a jury verdict. Or a bench trial before a Probate Judge in Probate Court or Civil Court. For those who really need a lawyer but can’t afford one, a contingency fee may be a good option.

The downside? You give up a big percentage of any potential recovery or damages or settlement. There are Florida Bar Rules which limit those percentages based on some particular cases. But expect to pay 30-50% of any settlement or recovery. Some lawyers will take a smaller percentage if you think your case will settle soon. Some law firms only take cases on a contingency. A lawyer who will take your case on a contingency is generally a confident lawyer. Someone who likes to try cases and fight for clients. Make sure you get your legal contract in writing. And get ready for trial. That contingency fee may just get you through the courthouse doors.