When anyone is hiring any kind of lawyer, the main thing in their mind is how much it will cost them. The good news is that lawyers provide different payment options and you can choose one that suits you best. the fee arrangement will depend on various factors. Such include:
- Type of the case
- Amount of time in court the case will take
- Amount of research the case will need
- Level of risk the lawyer will take
The state requires the lawyer and the client to come up with an agreement on how the payment will be conducted and put this agreement into writing. This article has explained some of the basic and common types of fee arrangements available today.
A Fixed Fee
Mostly, a fixed fee is set with small and simple cases. With such cases, everyone knows the progress, the amount of time it might take, and the results. So, the lawyer explains the exact services you will get from them. From there, you decide on how much you will give them at the end. Remember that the fee is fixed, and nothing will change this. However, it is crucial to ask the attorney about any changes that might take place and cause extra expenses.
When it comes to retainer fees, some individuals or businesses pay the professional to retain the even for future cases. So, you can pay the lawyer an upfront payment and have them stay by your side to help you on legal matters and any other case that might emerge. However, having the retainer means that you will have to pay them for the extra time they work for you. That means, should you have any legal matter or issue that will need their services, you do not necessarily need to go out to hunt for another lawyer. The advocate should explain their terms, and both of you should agree on the fees. Retainer fees are determined by various factors. So, both you and the lawyer should evaluate your situation and agree upon the terms and conditions.
Mostly, this type of fee is used in cases involving car accidents or compensation cases. If you are suing another party for negligence or causing you harm and expect a settlement, a lawyer can work on a contingency fee. For instance, if you hire an attorney from a personal injury and civil rights law firm in Atlanta, GA, the lawyer is entitled to a specific percentage of the money you receive once the case is settled. The professional does not get the fee should you lose the case. However, beware that you will pay for all the expenses involved in the case. Before anything else, confirm if the attorney requires you to pay them before or after the case. Make sure that the agreement is written down. A contingency fee is not allowed in criminal cases or cases involving divorce or family dispute settlement.
When it comes to an hourly rate, a lawyer will charge you based on every hour they spend working on your case. So, the longer the case takes, the more you will have to pay for the lawyer’s services. The rates vary with lawyers, and that is why it is crucial to agree with your legal assistant on how much they will charge you per hour. Ask them for an estimate of how long the case might take for you to know how much money it will cost you. Ask them if there will be other people working on your case and how much you will need to pay them. Hourly rates can be tricky, especially if you have no idea how long the case will take.
Regardless of the type of arrangement both of you agree on, the lawyer must present the agreement in a written form. Before you agree and sign, make sure you read everything carefully and ask for clarification where you do not understand. Understanding everything is vital to avoid conflicts in the future.