|
|
|
|
|
|
|
Using the All-Inclusive Breakout Calculator
|
|
|
A handy calculator that breaks down an all-inclusive offer to
settle into its constituent elements, thereafter determining the legal fees
and taxes owing by the claimant to the claimant's lawyer, and ending with a
real time calculation of the amount that the claimant will
"take-home" if they accept the all-inclusive offer. It is based on
the following assumptions:
|
|
|
|
|
| |
- the all-inclusive sum is first applied to
cover the claimant’s disbursements, such that the “damages” (upon which fees
are based) will be zero if the all-inclusive sum doesn’t surpass the amount
of the claimant’s actual disbursements;
|
|
| |
- the defence pays legal fees at the rate of
15% on the first $100,000.00 of assessed damages (which can be modified if
you like);
|
|
| |
- the defence pays legal fees at the rate of
10% on the damages assessed above $100,0000 (which can be modified if you
like).
|
|
|
| |
- the term “damages” includes prejudgment
interest; and
|
|
| |
- the only vagary for claimant’s counsel is
to determine how much of the claimant’s disbursements are being covered (or
paid for) by the defence. This sometimes has to be estimated in situations
where the defence hasn’t really provided any feedback: the calculator allows
the user to input the amount of disbursements notionally paid for by the
defence. A good rule of thumb is typically somewhere between 75% and 90% of
the actual disbursements.
|
|
|
|
|
|
|
|
|
For more details about the challenges behind working with
all-inclusive settlement offers, read "The All-inclusive
Conundrum."
|
|
|
|
360Mediations.com
|
|
| |
|
|