I think you are kidding yourself if you think the lawyer only gets 40 percent
I think 40% is pretty typical. It may be +/-10%, but it is in that range.
Here are teh specific rules regarding attorney compensation. Keep in mind, zero dollars equals no pay and not all law suits yeild these results here. Many times a case is taken for investigation and yields nothing or complications the client did not disclose. (for every 10 cases only one yields a net gain.)
This is the Florida Bar Regulation on Attorney fees AFTER a lawsuit has actually been filed:
b. After the filing of an answer or the demand for appointment of arbitrators or, if no answer is filed or no demand for appointment of arbitrators is made, the expiration of the time period provided for such action, through the entry of judgment:
1. 40% of any recovery up to $1 million; plus
2. 30% of any portion of the recovery between $1 million and $2 million; plus
3. 20% of any portion of the recovery exceeding $2 million.
c. If all defendants admit liability at the time of filing their answers and request a trial only on damages:
1. 33 1/3% of any recovery up to $1 million; plus
2. 20% of any portion of the recovery between $1 million and $2 million; plus
3. 15% of any portion of the recovery exceeding $2 million.
d. An additional 5% of any recovery after institution of any appellate proceeding is filed or post-judgment relief or action is required for recovery on the judgment.
Kaslin, you are confusing this, a wrongful death case, with a class action case. There’s a huge difference. Lawyers in wrongful death or personal injury usually get 1/3; sometimes if there are appeals, they will get 40% and as noted earlier, they usually take all the financial risks of pursuing the claim. It’s not a huge payoff when all is said and done and weighed against the costs and risks.