What is the value of a periodic payment settlement for the purpose of calculating a contingent attorney's fee?

California, United States of America

The following excerpt is from Schneider v. Kaiser Foundation Hospitals, 215 Cal.App.3d 1311, 264 Cal.Rptr. 227 (Cal. App. 1989):

The courts in various states which have addressed this issue have also uniformly concluded the value of a periodic payment settlement for the purpose of calculating a contingent attorney's fee is the present value of the periodic payments, which is normally best represented by the cost of the annuity purchased to fund the payments. (See Merendino v. FMC Corp. (N.J. Law Div.1981) 181 N.J.Super. 503, 438 A.2d 365,

Page 232

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