How Do Personal Injury Attorneys Get Paid In Florida?

You’ve seen it on a thousand adds, “we don’t get paid unless you get paid.” This statement isn’t wrong when the attorney is charging a contingency fee for representation. Contingency fees are like a commission. Close the deal and get a % of the amount.

All personal injury attorneys in the state of Florida are bound by Florida law to accept the same percentages for personal injury cases. This means that all Florida personal injury attorneys are limited to charging the same rate regardless of the size of the firm, experience of the attorneys, or ability to recover large settlements. That guy you saw on TV? He charges the same amount as the guy your friend recommended last week.

So how does Florida law break down the contingency fees for personal injuries? If the case settles before an answer is filed in a lawsuit, then the attorney earns 33 1/3% of the settlement. If a case is filed and an answer received, then the attorney takes 40% of the settlement. This is because once an answer is filed, there will be much more work to do on the case. Things like discovery have to be conducted, interrogatories need to be answered, depositions are taken, and mediation is attended. If you go to trial, the attorney is still paid the same 40%.

The 40% does not apply to any judgments over $1 million. Relax, most cases are not worth a million, but the law still provides that attorneys are paid 30% of the total recovery. In the off chance the case settles for 2 million or more, the attorney takes 20% of the total recovery.

Attorneys are also permitted to charge reasonable costs associated with obtaining the settlement. For instance, if a private investigator is hired, his fee will be deducted from the client’s settlement. The idea behind contingency fees is that it allows attorneys to represent everyone, not just those who have money up front.

Most personal injury attorneys, including Waggener Law, set up their billing so that the client never has to pay any money out of pocket. The firm takes the percent they are entitled to and then any reasonable costs are taken from the remaining total. Anything that’s left after resolving any liens on the client’s funds is given to the client.

If you’re looking for a personal injury attorney in Florida, don’t let the costs and fees get in the way of you choosing your attorney. We all generally charge the same thing. This frees you up to choose the attorney you’re most comfortable with and the one you think is going to get the best result for your case.