Are you wondering, “How much does Morgan and Morgan take from a settlement?” The answer is typically between 33-40% of the total settlement. But, don’t just take our word for it. Keep reading this article to understand the details of this fee structure.
What are Morgan and Morgan?
Morgan & Morgan is not just a law firm; it’s a powerhouse in the world of personal injury law. Established in 1988, this firm has been fighting for the rights of those injured in accidents.
With a wide range of expertise, from car accidents to product liability, they’re a force to be reckoned with. But, before you sign on, it’s crucial to understand their fee structure.
Morgan & Morgan’s Contingency Fee Structure
First, you need to understand Morgan and Morgan’s contingency fee structure. This helps you to make an informed decision.
Here’s how it works:
Standard Contingency Fee
Morgan & Morgan operates on a contingency fee basis, which means they only get paid if you win your case. If they don’t secure a settlement or win at trial, you owe them nothing.
This is a standard practice in personal injury law and ensures that everyone has access to legal representation. Regardless of their financial situation.
Percentage-Based Fee
The firm’s fees are typically a percentage of the settlement or award you receive. This percentage can range from 33% to 40%, depending on the complexity of the case.
For example, if your settlement is $100,000, Morgan and Morgan’s fee would be $33,000 to $40,000.
Factors Influencing the Percentage
Several factors can influence the percentage that Morgan and Morgan take from your settlement. These include:
- The complexity of the case
- The amount of work required
- The potential payout
Cases that are more complex or require more work will likely have a higher fee.
Additional Costs
In addition to the contingency fee, there may be other costs associated with your case. These can include court filing fees, costs for expert witnesses, and expenses for obtaining medical records.
Morgan and Morgan will usually pay these costs upfront and then deduct them from your settlement or award.
Transparency and Communication
Morgan & Morgan prides itself on transparency and communication. They will explain their fee structure upfront and keep you informed about the progress of your case.
This open line of communication ensures that there are no surprises when it comes to costs.
Negotiating Fees
While the contingency fee is typically a set percentage, there may be room for negotiation in some cases.
If your case is straightforward and likely to result in a substantial payout, you may be able to negotiate a lower fee.
However, this is not guaranteed and will depend on the specifics of your case.
How much do Morgan and Morgan take from a settlement?
The truth is, that the fees charged by Morgan and Morgan depend on your case’s unique circumstances. However, a general guideline is a fee of 33-40% of your settlement.
Let’s see some real-life examples.
Real-life Examples
Let’s delve into a few scenarios to clearer picture of Morgan and Morgan’s fee structure:
Example#1
Imagine you were involved in a car accident and decided to hire Morgan and Morgan to represent you. After a tough negotiation, they managed to secure a settlement of $100,000.
Based on their standard contingency fee structure, they would take between 33% to 40% of this amount. That means you could pay between $33,000 to $40,000 in legal fees.
Example#2
In another case, you might have been a victim of medical malpractice. Let’s say Morgan and Morgan fight your case and win a settlement of $500,000.
Again, their fees would be 33% to 40% of the total amount. You could end up paying between $165,000 to $200,000 in legal fees.
Example#3
Let’s say you suffered an injury at work and you’re entitled to workers’ compensation. If Morgan and Morgan secure a settlement of $50,000 on your behalf, their fees would be between $16,500 to $20,000.
Common Myths About Hiring Morgan & Morgan
Like any successful firm, Morgan & Morgan has its share of myths surrounding its services. Here are some of the common ones:
Morgan & Morgan is too big to care about my case.
Despite being a large firm, Morgan & Morgan is committed to providing personalized attention to each client. Every case is unique and receives the same level of dedication and effort, regardless of its size or complexity.
Hiring a big firm like Morgan & Morgan is too expensive.
Morgan & Morgan operates on a contingency fee basis. This means you don’t pay anything unless they win your case. The fees are a percentage of the settlement, so there are no upfront costs or hourly rates to worry about.
All the cases are handled by paralegals, not real attorneys.
While paralegals are an essential part of the legal team, Morgan & Morgan ensures that every case is overseen and handled by experienced attorneys. Paralegals assist in managing the workload, but the critical decisions and strategies are made by the attorneys.
It’s better to settle quickly than to hire a lawyer.
Insurance companies often offer quick settlements to avoid going to court. However, these initial offers are usually lower than what you might be entitled to. Hiring Morgan & Morgan ensures your rights are protected, and you get the compensation you deserve.
Morgan & Morgan only handles personal injury cases.
While personal injury is a significant part of their practice, Morgan & Morgan also handles cases in various other areas. Like labor and employment, civil rights, and consumer protection.
How Long Does Morgan and Morgan Take to Settle a Case?
When it comes to personal injury cases, the time it takes to settle can vary significantly. However, once a settlement is reached, the average check takes one to six weeks to process. This timeline is standard across the industry, not just for Morgan and Morgan.
The time it takes to reach a settlement can be influenced by many factors. These can include:
- The complexity of the case
- The willingness of the parties to negotiate
- The amount of evidence that needs to be collected and analyzed
However, it’s important to remember that each case is unique. While some cases may settle quickly, others may take more time to resolve. This is especially true if your case goes to trial.
Conclusion
So, how much does Morgan and Morgan take from a settlement? The answer is that Morgan & Morgan generally works on a contingency fee basis, the exact percentage they take from a settlement can vary.
Moreover, you might also be responsible for compensating the firm for case-related expenses. Remember to take advantage of their free initial consultation to discuss the details of your case and any concerns you may have about their fee structure.
Michael C Vang is a passionate blogger. He has been blogging since 2013 on a variety of topics. He is committed to creating informative and engaging content that helps readers learn more about everything.
