How Does Contingency Work in an Injury Case?

Wednesday, April 19, 2017

Although Ft Lauderdale personal injury attorneys often require a cost deposit or retainer before agreeing to take on a case, there is a contingency process often utilized for such cases in Broward County, Florida.

Key terms

Arbitrators: A panel of people or groups on both the defense and prosecuting side that present their opinions and ideas to a third person or group to resolve a case
Cost deposit: Additional money used that would exceed the original deposit for court costs
Overhead: A combination of the costs for equipment, library maintenance, rent, salaries, etc. (usually 35 to 50 percent of the total lawyer costs)
Trust account: A business account where a retainer or a cost deposit from clients' funds are stored

In a contingency case, instead of collecting these fees ahead of time, Fort Lauderdale personal injury lawyers may collect them after the case is over by a percentage of whatever the potential final payout results are. (The initial percentage and final payout amount do not include appeal cases or retrials).

While some injury law attorneys may agree to collect nothing if they do not win the case, if this agreement is not in writing, the client will still be held accountable for the kinds of fees mentioned above. These costs will be placed in a trust account.

Determining fees in an accident case

According to the Rules of Professional Conduct, here are common fees that a client must pay:

15 percent for recovery costs of more than $2 million: If the defendant admits wrongdoing but disagrees with the amount for damages
20 percent for recovery costs between $1 million and $2 million: If the defendant admits wrongdoing but disagrees with the amount for damages
20 percent for recovery costs of more than $2 million: If the client and attorney settle the case, or win this recovery amount, at trial
30 percent for recovery costs between $1 million and $2 million: If the client and lawyer settle the case, or win this recovery amount, at trial
33 1/3 percent for up to $1 million: If a case is settled before the filing of an answer or demand for appointment of arbitrators by the time the initial time period expires
33 1/3 percent for up to $1 million: If no answer is filed or no demand for appointment of arbitrators is made by the time the initial time period expires
33 1/3 percent for up to $1 million: If the defendant admits wrongdoing but disagrees with the amount for damages
40 percent for up to $1 million: If the case ends after the filing of an answer or demand for appointment of arbitrators, by the entry of judgment
40 percent for up to $1 million: If no answer is filed or no demand for appointment of arbitrators is made, by the entry of judgment

Always read the fine print

Before signing a contract for a contingency case, make sure to validate exactly what will be owed by the end of the trial. Some personal injury attorneys may take the overhead and cost deposits out of the recovery amount, which would include the costs of court filings and witness expenses.

The injury and accident lawyers at Krupnick Campbell Malone Buser Slama Hancock will carefully explain all of your post-victory or post-settlement fees beforehand so there are no surprises later. Our attorneys handle cases throughout Broward County, including Hollywood.

Updated: May 24th, 2017

The Law Firm of Krupnick Campbell Malone Buser Slama Hancock is welcoming a new team of trial attorneys and staff to lead its medical malpractice division. With these new additions, Krupnick, Campbell, Malone’s will continue its 45-year history of providing high quality representation to Plaintiffs who have been injured and require legal assistance to secure fair compensation for the losses they have suffered.

Founding partner Jon Krupnick stated “Skip Campbell and I created an unparalleled culture of hard work and enthusiastic trial advocacy on behalf of our clients. We have achieved groundbreaking verdicts and our efforts have resulted in important case law which is relied upon by Plaintiff lawyers throughout the land. The firm and our incoming medical malpractice team shall continue these traditions and remain at the forefront of trial advocacy.”

Malove Henratty, P.A. Attorneys Scott L. Henratty and Randall A. Diez, Jr. joned Krupnick, Campbell, Malone on February 1st, 2019. They will focus on medical malpractice ligation and assist the firm in other catastrophic and serious injury matters.

Since joining attorney Stephen Malove in 2007, Mr. Henratty has focused on medical malpractice and has been responsible for over $120 million in settlements and verdicts over the past decade. Mr. Henratty is a member of the American Board of Trial Advocates and is Board Certified by the Florida Bar as a Civil Trial Law Specialist. Mr. Henratty is the immediate past president of the Broward County Trial Lawyers Association and is also an Eagle member of the Florida Justice Association and he is Board Certified by the Florida Bar as a Civil Trial Law Specialist.

“It is truly an honor to join forces with the trial lawyer icons at Krupnick Campbell. Their vast resources and team approach to litigation is indeed formidable and we are excited to now be a part of that team,” said Henratty.

In addition to Mr. Henratty, associate Randall A. Diez, Jr. and a dedicated team of long-time support staff including Colleen Cheney, R.N. will begin working at Krupnick, Campbell, Malone. Ms. Cheney has been a registered nurse since 1975 and boasts a wealth of clinical experience in both the medical and legal field that is necessary for the complex investigation of medical malpractice cases.

Kelly Hancock, who joined the firm in 1989 after retiring as Broward County’s Chief Homicide Prosecutor, said “It has been the highest privilege to be a lawyer with Krupnick and Campbell for over 30 years. We are truly excited to be bringing in such an energetic group of trial attorneys and staff who have a track record of success and have been so effective at trial, especially in medical malpractice matters.”

As a result of the acquisition of its new medical malpractice team, the law firm of Krupnick, Campbell, Malone, Buser, Slama, Hancock P.A. will consist of 13 trial attorneys, many who have been there for over 30 years. . Krupnick, Campbell, Malone’s nation-wide practice areas include personal injury, wrongful death, premises liability, products liability, medical malpractice, admiralty, aviation disasters and rail accidents. The firm also engages in international litigation and the representation of sovereign nations in a wide variety of contexts and pursues white collar criminals on behalf of corporations, banks and other victims they have defrauded. Over the last 15 years, Krupnick and Campbell has recovered in excess of $2.5 billion for its clients.

The firm has recently celebrated record setting settlements in premises liability, motor-vehicle accident and product defect cases. Krupnick and Campbell’s international division is continuing to expand its practice after unparalleled success and landmark decisions it has obtained in the course of representing multiple foreign sovereigns. Its anti-money laundering division is currently preparing for a $230 million trial in Miami-Dade County.