Contingency Fee Agreements In Virginia

• 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 contractual relationship between a client and their attorneys in Virginia. This agreement is particularly crucial for clients who cannot afford upfront legal fees, as attorneys will only receive payment if they successfully recover funds on the client's behalf. Key features of this agreement include the percentage of recovery allocated for attorney fees based on whether the claim is settled out of court, resolved at trial, or after an appeal. Additionally, the document specifies how costs and expenses incurred during representation will be managed, including provisions for expert witnesses and associate counsel. The agreement grants attorneys a lien on any recovered amounts, ensuring their fees and costs are paid from the settlement or judgment. Attorneys hold the right to withdraw from representation under certain conditions, but they retain the right to fees if the client settles without their consent. Overall, this document is a vital tool for legal professionals and their support staff when representing clients under a contingency fee arrangement. It serves a broad audience, including attorneys, paralegals, and legal assistants, providing them with clear guidelines for structuring agreements and managing attorney-client relationships effectively.