# Closing statement

> A closing statement is the written breakdown of a settlement at the end of a contingency fee case: the recovery, the fee, costs, liens and your share.

Canonical page: https://accidentclaimfacts.com/glossary/closing-statement/  
Last reviewed: October 29, 2026 by the Accident Claim Facts editorial team  
General information, not legal advice. Talk to a licensed attorney in your state.

## Quick answer

A closing statement is the written breakdown a lawyer gives at the end of a contingency fee case. It shows the total recovered, the lawyer's fee, each cost and lien paid from the money, and the amount the client receives. (In a trial, "closing statement" can also mean a lawyer's final argument, but that is a different thing.)

## In a car accident claim

Under the ABA's model rule, when a contingent fee case ends, the lawyer must give the client a written statement of the outcome and, if there is a recovery, what you receive and how it was worked out. States adopt their own versions, and some add more. In Florida, until you approve the closing statement, your lawyer cannot pay any money to anyone, including you, without a court order.

The closing statement is where you can check the numbers against your fee agreement: the percentage the lawyer takes, whether case costs came off before or after the fee, and each lien or health plan repayment. Our guides to [contingency fees](https://accidentclaimfacts.com/money/contingency-fees/) and [fee agreements](https://accidentclaimfacts.com/choosing-a-lawyer/fee-agreements/) show what to compare, and [red flags](https://accidentclaimfacts.com/choosing-a-lawyer/red-flags/) covers what to do if something looks wrong.

## Example

> **Example:** A client's closing statement lists the settlement, the fee at the agreed percentage, costs for medical records and a deposition, a repayment to the client's health plan and the amount left for the client. The client sees a cost they don't recognize and asks the lawyer for the receipt before signing.

## Related terms

- [Contingency fee](https://accidentclaimfacts.com/glossary/contingency-fee/)
- [Client trust account](https://accidentclaimfacts.com/glossary/client-trust-account/)
- [Subrogation](https://accidentclaimfacts.com/glossary/subrogation/)

## FAQ

### Do I have to sign the closing statement?

Practices vary by state. Some states, such as Florida, require the client to approve it before any money is paid out. Either way, you can ask questions and see receipts before you agree.

### What if the closing statement does not match my fee agreement?

Ask the lawyer to explain the difference in writing. If it is not resolved, you can contact the lawyer disciplinary agency in the state where the lawyer is licensed.

## Sources

- [American Bar Association, Model Rules of Professional Conduct, Rule 1.5: Fees](https://www.americanbar.org/groups/professional_responsibility/publications/model_rules_of_professional_conduct/rule_1_5_fees/) — the written statement at the end of a contingent fee case
- [The Florida Bar, Rules Regulating The Florida Bar, Chapter 4](https://www-media.floridabar.org/uploads/2026/10/2027_04-OCT-Chapter-4-RRTFB.pdf) — Rule 4-1.5(f) and the Statement of Client's Rights for Contingency Fees
- [American Bar Association, Center for Professional Responsibility, Consumer FAQs](https://www.americanbar.org/groups/professional_responsibility/resources/resources_for_the_public/consumer_faqs/), checked October 29, 2026