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You want a lawyer who understands everything there is to know about your legal situation, charges fairly, and treats you with respect. Lawyers are not inexpensive, but you should be able to locate one who meets your needs at any price point. FVFLawfirm.com can help you understand clearly the costs for your potential legal needs.

General Guidelines to Remember

There's no set charge. A price arrangement between an attorney and a client is based on criteria such as the lawyer's overhead and reputation, the kind of legal issue, and the prevailing rate for similar services (such as a trademark search, eviction matters, bankruptcy issues, or living trusts). However, especially in locations where there are a lot of attorneys, you'll be able to discover lawyers that will work for less.

Cheap does not always imply quality. Even while everyone wants to save money, the cheapest lawyer is unlikely to be the best, particularly if your situation is complex or specialized. If the more expensive lawyer delivers efficient service and achieves superior outcomes, a new lawyer charging $100 per hour may wind up costing more than an experienced lawyer charging $300 per hour. Find out who pays the legal fees: the winner or the loser.

Expensive Isn’t Always the Best Option

However, there is a minimal link between a high fee and quality legal representation. The most expensive lawyer may be trying to sell you the image that comes with a nice address and a spectacular view. Consider how complicated your situation is. A basic company contract is unlikely to require the services of a competent corporation attorney. Your best pet can be a less expensive attorney who is passionate about your case.

A contingency fee is not always a good idea. A lawyer who accepts your case on a contingency fee only gets paid if you win — but this isn't always the best deal. If it's evident that someone else caused your injuries and you have insurance, the contingency charge may be an unreasonably substantial share, usually between 33 percent to 40 percent. A contingency fee is a terrific deal from your perspective when the attorney must take a substantial risk, but not so much when there is minimal danger — unless you agree on a much smaller proportion, of course.

Avoid any security concerns. Avoid any lawyer who wants you to pledge additional property to pay fees if you lose the case, or who wants you to secure the right to collect a fee through a deed of trust or mortgage on your home. In most places, these agreements are illegal.

Create a Fee Agreement in Writing

The majority of conflicts between lawyers and clients revolve around money, namely how much the client owes the lawyer. Written fee agreements (also known as retainer agreements or representation agreements) are required in some jurisdictions to avoid these issues, and this is always a good idea. It will lay out the conditions of the lawyer-client relationship and give a record of what you agreed to pay in case there is a later disagreement over legal expenses.

Included in a formal agreement should be the retainer. If you must pay a deposit in advance the contract should specify the amount of the retainer and when it must be replenished.

The agreement should also spell out the hourly rates for everyone involved in the case, as well as how often the lawyer will bill you, how detailed the statement will be, how long you have to pay the bill, discounts for early payment, late payment penalties, and how to contest a charge.

Fees on a Contingency Basis

The lawyer takes a portion of the client's wins in a contingency fee case. The contingency percentage — some attorneys collect a greater amount if the matter goes to trial — and the collection mechanism should be included in the contract.

Court fees, fees charged by expert witnesses, fees charged by private investigators, process servers or stenographers, copying charges, travel expenditures, or courier fees should all be addressed in the agreement. In a contingency fee case, a lawyer may agree to advance expenses and be compensated if the client wins, but if the client loses, the costs must be returned to the lawyer. Other lawyers demand that their clients pay these fees and charges as the case develops.

Securing the services of a lawyer will certainly cost you, but when the alternatives are considered, it’s likely a necessary expense.


NowSourcing

Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency , based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast, and has been named a Google Small Business Advisor for 2016-2018. Follow Brian Wallace on LinkedIn as well as Twitter.

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NowSourcing

Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency , based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast, and has been named a Google Small Business Advisor for 2016-2018. Follow Brian Wallace on LinkedIn as well as Twitter.

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