Contingency Fee In Real Estate In Pima

State:
Multi-State
County:
Pima
Control #:
US-00442BG
Format:
Word; 
Rich Text
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Description

There are various types of attorney fee arrangements such as time based, fixed, or contingent. Time based means a fee that is determined by the amount of time involved, such as so much per hour, day or week. Fixed means a fee that is based on an agreed amount, regardless of the time or effort involved or the result obtained. Contingent means a certain agreed percentage or amount that is payable only upon attaining a recovery, regardless of the time or effort involved.


With a contingent fee arrangement, the lawyer receives no fee unless money is recovered for the client. Upon recovery, the lawyer is paid an agreed-upon percentage, usually ranging from an amount equal to 25 to 50 percent of the amount recovered. A written fee agreement should specify the costs and expenses to be deducted and whether such costs and expenses are to be deducted before or after the contingent fee is calculated. Contingent fee agreements are generally not permitted for criminal cases or domestic relations matters.


Even if there is no recovery, however, the client is still responsible for court costs (filing fees, subpoena fees, etc.) and related expenses, such as telephone charges, investigators' fees, medical reports, and other costs.


This form is a fairly typical contingent fee agreement

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FAQ

Contingent fees create an undue emphasis on the extent of the plaintiff's damages, and they encourage the filing and prosecution of cases with large damages but little negligence.

Probate Shortcuts in Arizona ValueOther Requirements Personal Property < $75,000 No ongoing formal probate Real Estate <$100,000 No personal representative appointed (or active during the last year)

There may be additional hearings to resolve contests, and the executor will probably need court approval before making major decisions and actions. Informal probate is obviously the quickest and can conclude in 4 – 6 months. Formal probate may take up to a year or longer.

In Arizona, probate is always required for wills and assets that aren't in a trust or included in a transfer-on-death deed. Probate is also required for large estates consisting of personal property valued at over $75,000 and real estate property valued at over $100,000.

It can be easy to become overwhelmed with managing and balancing everything required to close out a deceased loved one's estate, especially when Arizona Probate law can be so time consuming. This is why it's highly recommended that you contact an experienced Arizona Probate lawyer.

Contingent means that an event may or may not occur in the future, depending on the fulfillment of some condition that is uncertain. This term is often used in contracts where the event will not take effect until the specified condition occurs.

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Contingency Fee In Real Estate In Pima