Contingency Fee In Law In Illinois

• Category: Attorneys - Fee Agreements
• State: Multi-State
• Control #: US-00442BG
• Format: Word; Rich Text

Description

The Contingency Fee Agreement with an Attorney or Law Firm in Illinois outlines the terms under which a client retains legal services, particularly in cases of wrongful termination. Central to this agreement is the contingency fee structure, which specifies that attorneys will receive a predetermined percentage of the net recovery based on the outcome of the case—whether settled out of court, resolved through a trial, or after an appeal. The agreement also details the client's responsibility for costs and expenses incurred during legal proceedings, including depositions and expert witness fees, which will be billed on a regular basis. Lawyers are granted a lien on any recovered funds, ensuring they are compensated from the settlement amount directly. Furthermore, the agreement clarifies the conditions under which attorneys can withdraw from the case, maintain fees upon client discharge, and the implications of settling outside of attorney consent. This form is particularly useful for attorneys, partners, and legal assistants as it establishes clear expectations regarding fees and client obligations, thus mitigating potential disputes. Overall, it serves as a protective measure for both the client and attorney, fostering a transparent professional relationship.