CFA Part 1

CFA Part 1
Contingent Agreement recovery total gross recovery 1/3 or 33.3% lump sum not obligated to pay written notice court cost obligated with recovery deposition co-counsel prosecute such claims ethical rules lien Statute of Limitations

Contingent Agreement

You only pay attorney’s fees if we recover money for you. If there is no recovery, you do not owe Life Legal attorney’s fees or case costs under this agreement.

recovery

Recovery means the money obtained for you through a settlement, award, or judgment.

total gross recovery

This is the total amount recovered on your claim before any fees or costs are deducted.

1/3 or 33.3%

To estimate the attorney’s fee, divide the total recovery by 3.
Example: If the recovery is $10,000, one-third is $3,000

lump sum

A lump sum is a one-time payment of money. For example, if the insurance company pays the full settlement in one check, that is a lump sum payment. 

not obligated to pay

If we don't get the payout for you, you owe us nothing.

written notice

This means Life Legal can end its representation by giving you written notice. If that happens, we will let you know in writing.

court cost

Life Legal may pay certain case expenses upfront so you do not have to pay them out of pocket while the case is ongoing. If there is a recovery, those costs are then reimbursed from your share of the recovery.

obligated with recovery

You only have to repay case costs if money is recovered for you. If there is no recovery, you do not owe those costs. 

deposition

A deposition is a formal interview where a witness answers questions under oath. Deposition costs can include things like the court reporter, transcript, and related fees.

co-counsel

Co-counsel is another lawyer who may help Life Legal handle your case if we believe their involvement would be helpful. You do not pay an additional attorney’s fee for co-counsel; their fee comes from the attorney’s fee already described in your agreement.

prosecute such claims

This means Life Legal may take legal action to pursue your claim, including filing and handling a lawsuit or other legal proceeding when appropriate.

ethical rules

This means Life Legal must follow the professional and ethical rules that apply to attorneys when handling or ending representation.

lien

This means our agreed fees and costs are paid out of the money recovered in your case before the rest is paid to you.

Statute of Limitations

Claims and lawsuits have deadlines. We need time to gather records and evaluate your case, so please respond quickly when we ask for information. If important deadlines are close, delays could affect our ability to pursue your claim.