There can be a lot of confusion when it comes to paying your attorney, and as a personal injury lawyer can share, there are many commonly asked questions regarding how much these services will cost. Here you’ll be able to find the answers to some common questions regarding payment.
What Is A Contingency Fee?
A contingency fee is a fee for when an attorney is only receiving a payment if your case reaches a settlement. If you have a contingency fee, you don’t need to pay an upfront amount to your lawyer for their services. The lawyer’s payment is contingent on you receiving compensation from your case, which is where the name for the fee comes from. Your attorney will have a decided percentage amount of your settlement. The typical window for this percentage is usually between 33.33% and 40% and your attorney will let you know what percentage they’ll be receiving.
Do Lawyers Charge Hourly Fees?
Lawyers are able to charge an hourly fee for the work they are doing on your case and the time that it takes. Some tasks that lawyers work on can be very tedious or time consuming but also crucial to the specific case so it’s important that they’re paid for their hard work. As our friends at the Brandy Austin Law Firm can confirm, different lawyers will have varying rates depending on their experience and training but not all cases and clients will be charged on an hourly basis so it’s important to discuss with your attorney and clarify how you’ll be paying.
What Is A Retainer?
A retainer is a fee that is paid up front by the client, it’s seen as a sort of down payment for expenses and fees. The money that your attorney does not end up spending for legal expenses will be returned back to you. If the amount of money in the retainer goes too low, usually the client is required to replenish it in order for the attorney to continue their services. Typically, a retainer is not meant to cover all fees for the entire case, it is meant to show the attorney that the client can afford these services and they will be paid for their hard work and long hours spent on these cases.
Can I Be Charged A Flat Fee?
Yes, attorneys charge a flat fee for situations that are pretty cut and dry. If there is a very standard straightforward procedure then a lawyer will charge a flat fee. For example situations like a simple will or an uncontested divorce.
Are There Other Ways My Attorney Can Charge Me?
Sometimes attorneys are able to work with clients to negotiate fees while some law offices have standard rates that they stick to. When you are thinking of hiring a lawyer it’s important to discuss payment plans and ask any questions you may have to make sure you know where your money is going.
This is meant to give just a generic overview of the ways an attorney can charge their clients, each law office and attorney may have differing rates. It’s important to discuss these rates and fees with your attorney before hiring them to ensure you know where your money is going and how it will be spent on legal expenses. Contact an attorney near you for help, and be sure to ask them how their fee structure works.