|
There is no such thing as a "standard fee." Clients and attorneys are free to negotiate fees based on several factors, including the lawyer's overhead and reputation, the type of legal problem, and what other local lawyers charge for similar work. There may be a local "going rate" for a certain type of job such as doing a trademark search, handling an eviction, filing a bankruptcy, or preparing a living trust. But there will still be lawyers who charge more and those who charge less.
Hourly fee. It's most common to pay lawyers by the hour. Law firms typically require a retainer on most cases that are non-injury related cases. The law firm, generally requires a deposit or retainer and bills or charges off of the retainer or deposit as work progresses. If you're paying by the hour, you need to know:
- the hourly rates of the lawyer and anyone else in the lawyer's office (paralegals, for example) who might work on the matter.
- whether you must pay a deposit in advance (often called a retainer) and if so, how much.
Hourly rates vary depending on the lawyer’s experience, scope of legal work, complexity of legal work, and the going rate in the same locality.
When a retainer or deposit is depleted, the client is generally expected to provide an additional retainer.
On hourly retainer cases, clients are normally billed once a month for the prior month’s legal work on their respective cases.
Flat fee. For some well-defined tasks, such as writing a simple will, a lawyer may charge a flat fee. When negotiating a flat fee with the firm, a number of factors come into play including the set tasks or work performances. The more defined the task is, the more the case could be suited for a flat fee.
Contingency fee. A contingency fee arrangement is one in which the lawyer gets paid only if you win your lawsuit. Contingency fees are often used in personal injury and employment cases. Contingency fees reflect the fact that there can be a lot of uncertainty in litigation, and the lawyer is taking a chance on your case, including fronting the costs and spending significant amounts of time. A contingency fee can be a good option for the client if both the lawyer and the client are willing to take the risk in working the client’s case, wherein the client would not otherwise be able to economically opt for an hourly rate or flat fee.
|
