Financing Litigation Costs: Loans, rich uncle, etc.

[Music] So how are you going to pay for your lawsuit unfortunately lawsuits in the modern age are very expensive it costs a lot of money to hire a lawyer to pay for all the discovery that you have to do issue subpoenas take depositions hire expert witnesses pay court filing fees everything costs time and money and it a typical civil lawsuit can be very expensive so how are you going to finance this cost if you're not independently wealthy and you don't have the money to just pay for it yourselves with which a lot of people simply don't obviously now if you had a rich uncle or somebody who's willing to step in and pay for your lawsuit for you or give you a personal loan that'd be one way that you could try to fund your lawsuit another way is if you could group up with other parties so for example in a trust or will lawsuit a lot of times there's more than just one beneficiary who's being harmed and they're all being harmed in the same way well if you were to pool your resources and all go in together to hire a lawyer that'd be a way to reduce the cost per beneficiary so rather than just one beneficiary taking action maybe two or three or four of you get together and you all take the same action with the same lawyer that'd be another way to reduce the litigation cause a third way to fund your litigation costs is to not pay out of pocket for your legal fees instead you can find a lawyer who's willing to do your case on a contingency basis and by contingency we're talking about a lawyer who agrees to be paid a percentage of the assets that they recover for you as their fee and sometimes that percentage can be 40 percent sometimes 35 percent sometimes 45 percent depends on the case the complexity the assets that issue and everything else that goes into that analysis but hiring a lawyer on a contingency case can be a great option because number one you don't have to pay for that lawyer out of your own pocket it limits your exposure financially and also creates a great incentive for the lawyer to jump in there become a partner with you in the lawsuit and to go and get as much as he or she possibly can for your benefit Albertson and Davidson is here to help you fight for your inheritance check out Alda law calm for our complete library of helpful legal videos and articles from your favorite California trusts and we'll litigation law firm Albertson and Davidson LLP.