Say your Professional Fee was £8,000 and the expenses were £3,000. So long as the value of your Settlement Monies were more than our legal fees, this is how your Conditional Fee Account for our legal fees would be calculated.
|Professional Fee Component||£8,000|
|VAT @ 20%||£2,200|
|Conditional Fee Account||£13,200|
If your Settlement Monies were enough to pay our legal fees, the Uplift Fee would then be calculated as follows:
|50% of the Professional Fee component||£4,000|
|+ 20% VAT:||£800|
|Total Uplift Fee:||£4,800|
The larger the estate, the more valuable your inheritance rights are to you.Makea claim
Any Settlement Monies payable for your claim will usually always include a payment for your share of the estate, plus a contribution towards your Conditional Fees Account and towards your Uplift Fee.
If you were successful with your will contest/challenge, the court would usually order the Estate/Defendant to pay about:
The balance of your Uplift Fee, which you must pay from our Settlement Monies under our No Win No Fee Principles, is called our “Deductible Uplift Fee”.
As it is up to the court’s discretion as to how much the Estate/Defendant must pay as a contribution towards your legal fees, the above percentages should be seen as just a guide: a rule of thumb.
Of course we would ask the court to order the Estate/Defendant to contribute as much as possible towards your Contingency Fee Account and Uplift Fee, but let us assume that the above proportions apply.
You can see how this works in the examples below.
Assuming that as a result of a court hearing or a settlement, that the Estate/Defendant had to pay say £40,500 to settle your claim, plus say £9,500 towards your legal costs. Then the Estate/Defendant would need to pay a total of £50,000 as Settlement Monies.
Under our No Win No Fee Plan, as the Settlement Monies of £50,000 exceeded the amount of the Conditional Fee Account (£ 13,200), we would firstly deduct the £ 13,200 from the Settlement Monies to pay the Conditional Fee Account.
This would leave you with £36,800 left over from the Settlement Monies, and as our Uplift Fee is also covered by what remains, we would deduct a further £ 4,800 for the Uplift Fee.
The balance of the Settlement Monies would be £32,000, and this would be paid to you.
If the proposed fee was less than the Settlement Monies, we would reduce our fee.
Remember, our fees do not go up as your Settlement Monies increase: our legal fees are not a percentage of what you get paid from the Estate/Defendant. Once we are paid, you get the rest. This is shown in the next illustration.
If the value of the Settlement monies totalled £70,000 instead of £50,000, our fee would still be £4,800, a total of £18,000, the same as before.
Although the amount paid has gone up by £ 20,000, all of the extra would go to you. In the example you would get all of the increase, and pocket £52,000 instead of £32,000.
Note: these figures are for illustrative purposes only. They cannot be used as a guide as to what you are likely to get by commencing your own will contest/challenge. For an assessment of what you are likely to receive from your claim, ask CWPL.