What will it cost for me to hire an attorney?
There are no out of pocket costs for the client on personal injury case. You will not owe any fees to your attorney unless he is able to recover money for you. Should your case require litigation, the costs for that litigation may be taken out of your ultimate recovery amount.
How does my attorney get paid?
Your personal injury case will be handled on a contingency fee basis. What that means is that once a settlement is reached, your attorney will take a percentage of that settlement. Most firms will require that you are paid between 33% and 40% of the settlement proceeds. Ericson & Shaw understands that the many times the settlement funds are necessary to reimburse you for your costs and damages caused by the accident. What many lawyers don’t want you to know is that settlements can often be reached through negotiations with an insurance company and that the time and effort of litigation is rarely necessary. Many firms may take 40% of your settlement after doing very little work on your case. As a result, Ericson & Shaw will typically only requires a 25% contingency fee if your case settles without litigation. Should your case require litigation, the contingency fee amount is increased to 33% as a result of the additional time and work that results from litigation.
How involved am I in the settlement process?
Attorneys are obligated to inform you of any and all settlement offers from the opposing parties. Even if your attorney believes that the offer is insufficient, he must allow you an opportunity to accept or reject the offer. While your attorney may have a financial stake in your settlement, you ultimately have the final say as to whether to accept any and all settlement offers.
Will I receive all of my settlement funds?
One important thing for you to remember is that all of your medical bills, including those paid by any health insurer (including Medicare and Medicaid) must be paid out of your settlement amount. Utah Law allows all health insurers to lien your recovery amount. This means you cannot have access to your settlement funds until your health insurance provider is reimbursed for any and all payments they made as a result of your accident. This will obviously decrease the amount you will take from your settlement. As a result, these amounts must be considered when determining whether to accept a settlement offer. Many attorneys fail to inform their clients of these liens. Ericson & Shaw has been very successful in the past at negotiating with the insurance companies to decrease, and many times waive any liens they may have against a potential recovery, therefore maximizing the payout for their clients. Be sure to make your attorney aware of all medical treatment that you have received and any and all health insurance that may have been in place at the time of your accident.
How do I determine how much I may be entitled to recover?
You are entitled to recover any and all damages that were caused by the accident. This may include, all medical costs of any kind (including chiropractor costs, physical therapy, rehabilitation and prescriptions), the costs of any and all future medical treatment that may be necessary, lost wages, property damage, rental car, travel costs, and other intangible damages such as decrease in life style and emotional distress.
What things should I consider when deciding whether to accept a settlement offer?
The most difficult part of any personal injury case is placing a dollar value on your damages. In a court of law, the burden of proof is on the plaintiff to prove their damages by a preponderance of the evidence. Therefore, some damages are easier to prove than others. While it is very simple to put a dollar value on the out of pocket costs and medical bills, it is very difficult to assign a dollar value to other damages such as emotional distress and a decrease in lifestyle. Therefore, the first consideration is to put a realistic dollar value on your case. The first thing that the attorneys at Ericson & Shaw will do is sit down with you and discuss your expectations and help you determine the value of your case.
Once you have determined the value of your case, it is also important to consider the amount of insurance liens as well as the attorney’s fees. You need to be able to calculate and understand what your portion of your settlement will be. Another factor to consider is whether you are willing to see your case all the way through the litigation process. The attorneys at Ericson & Shaw are experienced litigators and will aggressively litigate your case. However, it is important for you to understand that the litigation process can take over a year to make its way through the court system to trial. That litigation process will also lead to additional costs and fees. Finally, the last factor to consider is the likelihood of prevailing at trial. While very few personal injury cases make their way to trial, it is important to understand that there is always, at least a small risk of not prevailing at trial or receiving an amount under your expectations. Ericson & Shaw will thoroughly discuss all of these factors with you so that you can make an informed decision when approaching settlement negotiations with the culpable party or their insurance company.
Why hire an attorney for my personal injury claim?
An attorney can maximize your recovery. In addition, an attorney can help to ensure that all of the insurance liens are satisfied and your needs and obligations are met and that you are fully compensated for your damages.
If you have any additional questions, or would like assistance with your personal injury claim please give us a call at (435)753-4775. Or visit us at http://www.ericsonshaw.com
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