This guide provides a step-by-step process for accurately calculating attorney fees in settlement cases, ensuring transparency and efficiency. It simplifies the complexities of fee allocation, allowing users to easily input settlement details and adjust percentages as needed. By following this guide, attorneys can streamline their billing process, maintain compliance, and enhance client trust through clear fee structures. It's an essential resource for legal professionals looking to optimize their settlement management.
1. Step 1: Access Create A Settlement Screen
- Log In
- Access LawAccounting/CaseQube using your secured credentials.
- Navigate to Matter Tab
- Select the Matter that you are using
- Navigate to Create A Settlement Screen
- Click Create A Settlement
/>
2. Step 2: Enter the Total Settlement Amount
- Click the Pencil Icon
- Fill In Settlement Screen
- Date: The date the settlement was finalized or agreed upon.
- Insurance Provider: The insurance company responsible for paying the settlement.
- Claim Number: The claim or reference number assigned by the insurance provider.
- Amount: The total gross settlement amount before any deductions or distributions.
- Split: An option to check a box to divide the settlement amount into multiple portions (e.g., between parties, coverage types, or payment installments).
- When finished click Done
Click "Done"
/>
3. Step 3: Calculating the Total Attorney Fees
-
Total Attorney Fees: Automatically set to 33.3% (one-third of the settlement) by default. This percentage can be manually changed by clicking in the field. Once adjusted, the attorney fee amount will automatically recalculate based on the new percentage.
-
Reduction Amount: Automatically set to $0.00. Any amount deducted from the total attorney fees (e.g., negotiated reductions, courtesy discounts, or fee adjustments). The final attorney fee will reflect this reduction. This can be changed by clicking in this field and the attorney fee amount will automatically recalculate
/>
4. Step 4: Adding Attorney Fees
-
Principal Attorney automatically gets 100% of fees: By default, the principal attorney is assigned the full fee amount.
-
Option to add an attorney: Use this option to split fees between multiple attorneys.
-
Click the plus icon: Add an additional attorney to the fee allocation.
-
Add an attorney: Select or enter the attorney’s name and fee details.
-
Calculate the percentage so it equals 100: Adjust the fee percentages so the total allocation across all attorneys equals 100%.
-
/>