When facing legal challenges, it’s essential to have trustworthy legal representation by your side.
Morgan and Morgan, a prominent law firm known for its extensive presence across the United States, has garnered significant attention due to its contingency fee model.
In this blog by ProCurian, we will explore the intricacies of Morgan and Morgan’s fee structure, shedding light on how much they take from a settlement and the factors influencing their percentage.
About Morgan and Morgan
|Law Firm Name||Morgan and Morgan|
|Founded||November 22, 1988|
|Founders||John Morgan and his wife, Ultima Morgan|
|Headquarters||Orlando, Florida, United States|
|Services||Personal Injury, Medical Malpractice, Mass Torts, Product Liability, Workers’ Compensation|
|Number of employees||3000+, including 800+ lawyers in 2022|
|Offices||105 offices offices across the United States|
|Social Media||Facebook: @morganandmorgan|
YouTube: Morgan and Morgan
Morgan and Morgan-Contingency Fee Model
Morgan and Morgan operates on a contingency fee basis, which means they do not charge their clients upfront fees for legal services.
Instead, their fees are contingent upon successfully resolving the case. If they win the case or negotiate a settlement on behalf of their client, they receive a percentage of the awarded amount as their fee.
If they don’t secure a favorable outcome, the client typically owes nothing.
This fee model has several advantages. It allows individuals who might not have the financial means to afford legal representation to access high-quality legal services.
It also incentivizes law firms like Morgan and Morgan to work diligently to win cases, as their success directly impacts their income.
How Much does Morgan and Morgan take from a Settlement?
Morgan and Morgan often charge a contingency fee ranging from 25% to 40% of the settlement sum, while the precise number might vary based on the particulars of the case.
It’s crucial for potential clients to discuss the fee structure upfront during their initial consultation with the firm to ensure full transparency.
Let’s consider a couple of examples to illustrate the fee structure:
Example 1 – A client receives a settlement of $100,000, and the agreed-upon fee with Morgan and Morgan is 30%. The firm would retain $30,000 as their fee, and the client would receive $70,000.
Example 2 – In another scenario, if the agreed-upon fee is 35% for a $200,000 settlement, Morgan and Morgan would keep $70,000, and the client would receive $130,000.
To understand Morgan and Morgan’s fee structure better, let’s review a few real-life examples:
1) Car Accident Case – A client was involved in a car accident, resulting in injuries requiring extensive medical treatment. Morgan and Morgan represented the client and secured a $300,000 settlement. The agreed-upon fee was 35%, resulting in the firm receiving $105,000, while the client received $195,000.
2) Medical Malpractice Case – In a medical malpractice lawsuit, Morgan and Morgan successfully obtained a $1.2 million settlement for their client. With a negotiated fee of 30%, the firm retained $360,000, leaving the client with $840,000.
Comparing Morgan and Morgan with Other Law Firms
When considering hiring Morgan and Morgan, it’s essential to compare their fee structure with other law firms.
While their percentages fall within the typical range for reputable firms, potential clients may find slight variations from one firm to another.
Differentiating factors between law firms’ fee structures may include:
- the firm’s reputation,
- the complexity of cases they handle and
- their specific success rates.
Clients should consider these factors when making their decision.
Benefits of Morgan and Morgan’s Fee Structure
Morgan and Morgan’s contingency fee model offers several benefits to clients:
1) Access to legal representation – The contingency fee model allows clients to access legal services without worrying about upfront costs. This is particularly beneficial for individuals who might not have the financial means to hire an attorney otherwise.
2) Motivation for success – Since the firm’s income depends on the outcome of the case, they are highly motivated to work diligently and efficiently to achieve a positive resolution for their clients.
3) Sharing risk with clients – The contingency fee model aligns the interests of the law firm and their clients. Both parties share the risk, encouraging the firm to prioritize the client’s best interests.
How long does Morgan and Morgan take to settle a case?
An average settlement check takes one to six weeks to process. However, it can take some time before you receive the rightful compensation.
If you choose one of Morgan & Morgan’s experienced attorneys, you shouldn’t have to wait six weeks to get your settlement cash.
Morgan and Morgan settlement reviews
Morgan & Morgan Reviews
Customer reviews for law firms can vary widely, as experiences may differ depending on the specific case, the attorney handling it, and individual circumstances.
How Much does Morgan and Morgan take from a Settlement?
Typically, 25% to 40%, varying based on case complexity and jurisdictional regulations.
Are there additional fees?
No, their contingency fee covers legal representation and expenses.
Can I negotiate the percentage?
In some cases, negotiation is possible, especially for strong cases.
When do I pay?
You only pay if they win or reach a settlement on your behalf.
Will the percentage change based on the settlement amount?
The percentage generally remains constant, regardless of the settlement size.
What if we lose the case?
In that event, you owe nothing, as it is a contingency fee arrangement.
How long does the settlement process take?
Settlement time varies based on case complexity, but they work diligently to resolve it within six weeks.
Can I get an estimate before proceeding?
Yes, during the initial consultation, they’ll discuss the potential fee percentage.
Are there hidden costs or surprise fees?
No, they prioritize transparency and ensure clients are aware of all costs.
Is it worth hiring Morgan and Morgan?
Many clients find their services valuable due to their expertise and accessibility.
Understanding Morgan and Morgan’s fee structure is crucial for anyone considering hiring their services.
As a reputable law firm operating on a contingency fee basis, they provide access to quality legal representation for clients across the country.
By discussing the fee percentage openly and maintaining transparent communication, Morgan and Morgan fosters a positive client experience while navigating the complexities of legal cases.
As always, potential clients are encouraged to research and inquire about fees before making an informed decision about their legal representation.