In consideration for legal services to be rendered by a law office, the client agrees to pay the law firm a percentage of all amounts recovered on behalf of the client. The law firm and the client agree that no attorney-client relationship will exist until the law firm has received from client an initial retainer fee.
Michigan Legal Services Agreement - Contingent
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FAQ
That is, generally in a contingency fee agreement, the lawyer only receives compensation if the lawyer has successfully represented the client. Further, the amount the lawyer receives is contingent upon the result the lawyer obtains and often on the phase of litigation in which the dispute settles.
That said, the most common lawyer contingency fee average ends up being 33%, or ? of the total earnings of a case, but can go up to 40% (in some jurisdictions) as the complexity and risk involved in taking the case increases.
Nothing is guaranteed. When a lawyer is paid on a contingency basis, he shares that risk with you. He doesn't get paid unless you do. In addition, he gets paid more if you get paid more. This gives him more incentive to work harder and achieve a favorable outcome for your case.
It's also a plus because in many cases, the plaintiff can't afford a lawyer unless the case is won. This also provides an incentive to the attorney to do the best work that they can, otherwise they miss out on payment.
Lawyers can charge a contingency fee in any matter except for family law, Criminal Code (Canada), or any other criminal or quasi-criminal matters.
In the United States, lawyers are unable to use contingency fees for criminal cases, divorce and family law cases, and domestic relations cases, with similar rules in Canada. With criminal cases, there is usually no financial recovery, so using a contingency agreement to cover payment would be useless.
Michigan Court Rule 8.121 limits attorneys' contingent fees in claims or actions for personal injury or wrongful death to a maximum allowable fee of one-third of the amount recovered.
If you work for someone on a contingency basis, you agree that you will only be paid if you achieve a particular aim, for example, getting a successful result in a court of law: In personal injury cases many attorneys work on a contingency basis, so you will not have to pay them a fee up front.
