What Does It Cost To Hire An Attorney?
The law is a noble profession. It’s hard to argue that point. After all, no matter the case, lawyers are trying to get to the truth and see that justice is served. That said; it is important to realize that there is a business end to this transaction, not just a social one.
This article will explain what you need to know about attorneys’ fees so you can better employ your powers of negotiation.
How Much Does a Lawyer Cost?
There are three billing categories used in attorneys’ offices:
Each of the categories listed above is a type of payment arrangement. Out of the three listed, the hourly rate is the most common. It means exactly what it indicates; that your lawyer is paid a certain rate per hour for the time she/he spends working on your case.
A flat rate works a little differently. This arrangement is more selective. There are times when your lawyer might agree to a flat rate upfront. If you’re thinking “retainer” you’re on the right track. There is one significant difference between a flat rate and a retainer: a flat rate is a one-time payment agreed upon to resolve a particular type of case or legal problem. A retainer is an upfront, ongoing fee to secure legal services as needed. Flat fees are used by individuals. Retainers are used by medical facilities, corporations, insurance companies, etc.
A contingency fee is an arrangement based on an if/then equation. As in, if you win your case, then your lawyer gets paid a percentage of the funds awarded. If you do not win your case, then you don’t owe your lawyer for the services rendered.
Now, that last option may sound like a pretty good deal, but it is a gamble. You have to have a pretty strong case for a lawyer to make that kind of an arrangement. In fact, certain billing options only apply to certain cases.
So which cases apply to which fees? That’s a good question. Here are some examples:
You can negotiate between an hourly rate and a flat fee if your case involves:
The best way to get a straight answer to the question of cost is to set up a consultation with a lawyer to discuss your individual case. Payment arrangements can be discussed and agreed upon also.
Attorneys at Stockard, Johnston, Brown & Netardus, P.C. in Amarillo, Texas are available to discuss your case, contact us today.
This article will explain what you need to know about attorneys’ fees so you can better employ your powers of negotiation.
How Much Does a Lawyer Cost?
There are three billing categories used in attorneys’ offices:
- Flat
- Hourly
- Contingency
Each of the categories listed above is a type of payment arrangement. Out of the three listed, the hourly rate is the most common. It means exactly what it indicates; that your lawyer is paid a certain rate per hour for the time she/he spends working on your case.
A flat rate works a little differently. This arrangement is more selective. There are times when your lawyer might agree to a flat rate upfront. If you’re thinking “retainer” you’re on the right track. There is one significant difference between a flat rate and a retainer: a flat rate is a one-time payment agreed upon to resolve a particular type of case or legal problem. A retainer is an upfront, ongoing fee to secure legal services as needed. Flat fees are used by individuals. Retainers are used by medical facilities, corporations, insurance companies, etc.
A contingency fee is an arrangement based on an if/then equation. As in, if you win your case, then your lawyer gets paid a percentage of the funds awarded. If you do not win your case, then you don’t owe your lawyer for the services rendered.
Now, that last option may sound like a pretty good deal, but it is a gamble. You have to have a pretty strong case for a lawyer to make that kind of an arrangement. In fact, certain billing options only apply to certain cases.
So which cases apply to which fees? That’s a good question. Here are some examples:
You can negotiate between an hourly rate and a flat fee if your case involves:
- Business partnership agreement
- Leasing rights
- Establishing power of attorney
- Real-estate transfer
- Marital dispute
- Organizing a living trust
The best way to get a straight answer to the question of cost is to set up a consultation with a lawyer to discuss your individual case. Payment arrangements can be discussed and agreed upon also.
Attorneys at Stockard, Johnston, Brown & Netardus, P.C. in Amarillo, Texas are available to discuss your case, contact us today.