Is a contingency fee of 40% excessive?
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Is a contingency fee of 40% excessive?
Asked on July 29, 2013 under Personal Injury, Alabama
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
There is no single answer, since much depends on:
the expected size of the award or settlement--a lawyer needs to take a larger share of a smaller amount in order to be compensated for his/her work, for example;
the strength of the case and likelihood of winning--a lawyer will take a higher percentage of weak cases, to reflect the lower chance of getting paid;
the costs of the case, including time costs--for a very time- or labor-intensive case, a lawyer would be justified in seeking a higher percentage.
All that said, 40% is a high number, and you should get proposals or estimates from other attorneys to compare. This is nothing wrong with comparison shopping for lawyers.
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