Updated April 6, 2024
How Much of the Settlement Do I Get to Keep?
Transcript
If you have had an injury case and it’s gone to court or to a mediation and the case has been settled, sometimes a client will ask, “How much of the settlement do I get? Do I get to keep all of the money?” The answer to that is no.
Hopefully, up front, the attorney and the client have had a communication about how this works so that the client understands the expectations going into a mediation to try to settle their case.
As an attorney, it’s our job to make sure that the client makes a good decision and to advise them. In other words, to go through exactly what comes out of a settlement ahead of time so that the client has a good understanding of that.
Out of a total settlement, there are several things that are going to come out of the total. The first is attorney fees. An attorney fee is typically one-third when you have this type of a contingency fee agreement. Then, there may be expenses associated with the case that the attorney has forwarded or paid. For example, expenses associated with taking depositions or travel or, for example, filing fees with the court. Those expenses also get reimbursed out of a settlement.
Last but not least, there may be some type of a health insurance repayment to some type of medical provider. If somebody has paid your medical bills on your behalf, usually they will want something back for the money they have paid out of the settlement.
When the case is ready to be settled, as attorneys it’s our job to advise the client to make sure that they understand exactly what their net is going to be out of the settlement and to help give them good advice to make good decisions.
Contact a Personal Injury Attorney Today
If you or a loved one have been injured as a result of someone else’s negligence, you are urged to contact the Indianapolis Personal Injury Attorneys of Wilson Kehoe Winingham. The lawyers at WKW can help you get the compensation you deserve. Call 317.920.6400 or fill out an online contact form for a free, no-obligation case evaluation.
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