Contingency In Law Terms 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 outlines the terms of representation for clients seeking legal assistance in Illinois. It establishes a lawyer-client relationship where fees are contingent upon the successful outcome of the client's claim, typically a percentage of the net recovery. Key features include provisions for attorneys' fees differing based on whether the case is settled out of court, resolved in trial, or involves appeals. The agreement specifies the responsibilities for covering costs and expenses incurred during the legal process, which must be reimbursed to the attorneys. Users should fill in the necessary information, including percentage fees and the description of the claim, ensuring clarity throughout the document. This form is particularly useful for attorneys, partners, and legal assistants in managing payment structures effectively, facilitating clear expectations regarding costs and potential recoveries. It also serves as a protective measure for both parties by detailing liens on recovery and the terms for withdrawal or discharge of attorneys. The document is structured to be easily editable, enabling customization for individual cases while adhering to legal standards in Illinois.