This form is a attorney-client contract agreement based upon a contingency fee. The fee percentage is included in the contract.
Phoenix Arizona Attorney Fee Contract - Contingency - 40%
Category:
State:
Multi-State
City:
Phoenix
Control #:
US-PI-0227
Format:
Word;
Rich Text
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FAQ
Answer. In a contingency fee arrangement, the lawyer who represents you will get paid by taking a percentage of your award as a fee for services. If you lose, the attorney receives nothing. This situation works well when you have a winning lawsuit.
Under the AICPA rule, a member could potentially charge a contingent fee for an amended return if the member can demonstrate a reasonable expectation, of substantive consideration by a taxing authority.
To put it another way, with a contingency fee, payment for your attorney's services is "contingent upon" your receiving some amount of compensation. Your attorney will take an agreed-upon percentage of your recovery. This percentage is often around 1/3 or 33%.
The standard contingency fee for an attorney is a percentage amount rather than a fixed amount. Most personal injury lawyers charge 33 1/3 percent if the case settles without filing a lawsuit and 40% if a lawsuit is filed. Most employment lawyers charge a 40% fee.
In a typical contingency fee agreement, the plaintiff is only responsible for paying their attorney if they win the case, with the payment coming as a percentage of the winnings. The reason that contingency fees are used so often is related to the cost of pursuing a trial.
No matter when the claim settles or how much, the legal representative usually cannot take more than the 33.33 percent of compensation awards. However, most of the fees and expense the lawyer will acquire through the completed case are in the fine print of a legal agreement between client and lawyer.
Contingent fees are also permitted for interest and penalty reviews and for services rendered in connection with a judicial proceeding arising under the Internal Revenue Code.
In a contingent fee arrangement, the lawyer agrees to accept a fixed percentage (often one-third to 40 percent) of the recovery, which is the amount finally paid to the client. If you win the case, the lawyer's fee comes out of the money awarded to you.
While the percentage of the fee varies by lawyer, typically contingency fees are 33 2153 percent of the case if a lawsuit is not filed and 40% if a lawsuit is filed.