Morgan & Morgan is a law firm that was founded in 1988 by John Morgan and his wife Ultima. The firm is known for taking on personal injury cases and other legal matters. However, one of the questions that people ask when they hear about the firm is, “How much does Morgan & Morgan take from a settlement?” In this blog post, we will explore this question and provide you with a detailed answer.
Before we delve into the specifics, it’s essential to understand what a settlement is. A settlement is an agreement reached between the two parties involved in a lawsuit before a verdict is reached. In other words, both parties agree to resolve the dispute without going to court. Settlements can be reached in various ways, including mediation or negotiation, and they often involve monetary compensation for the plaintiff.
When a settlement is reached, the lawyer representing the plaintiff (in this case, Morgan & Morgan) is entitled to a percentage of the settlement amount as their fee. This percentage is commonly referred to as a contingency fee. A contingency fee is a fee paid to a lawyer only if they win the case or reach a settlement on behalf of the client. If the case is lost, the lawyer receives no payment.
Now, let’s get back to the question at hand, “How much does Morgan & Morgan take from a settlement?” The answer to this question depends on several factors, such as the nature of the case and the percentage agreed upon between the client and the lawyer.
In most personal injury cases, Morgan & Morgan operates on a contingency fee basis. The contingency fee percentage typically ranges from 25% to 40% of the settlement amount. This means that if Morgan & Morgan wins a case or reaches a settlement on behalf of their client, they will receive a percentage of the settlement amount as their fee.
It’s worth noting that the percentage agreed upon between the client and the lawyer can vary depending on various factors. For instance, if the case is complicated and requires extensive research and resources, the contingency fee percentage may be higher. Conversely, if the case is relatively straightforward, the percentage may be lower.
It’s also essential to understand that some cases may involve additional fees and expenses incurred during the litigation process. These expenses include court costs, deposition fees, expert witness fees, and other related costs. Typically, these fees are deducted from the settlement amount, and the lawyer receives a percentage of the remaining amount.
In conclusion, Morgan & Morgan takes a percentage of the settlement amount as their fee, commonly referred to as a contingency fee. The percentage can range from 25% to 40%, depending on various factors such as the nature of the case and the agreement between the client and the lawyer. Additionally, expenses incurred during the litigation process are typically deducted from the settlement amount, and the lawyer receives a percentage of the remaining amount. It’s crucial to discuss the contingency fee and any expenses with your lawyer before signing a contract to ensure that you fully understand the terms of the agreement.