Secrets about Attorneys' Fees
No one likes that feeling of being unaware of what they are really paying.
However, we are mostly raised to be "polite" and not violate
the social barrier of asking a vendor right up front, "how much will
this cost me?" Maybe there is fear there of creating the perception,
or getting the reply, that "if you have to ask you can't afford my
services!"
I believe in the "taxicab" rule: don't get in for the
ride until you know the fare! It is not impolite to ask! Hiring a lawyer is
a major commitment. All parties to the agreement have to be satisfied and
on the same roadway from the start "of the ride." Sometimes cases
can span many months. At the end, your important interests are going to
be decided based on how talented (s)he is who does the job. Pick a lawyer
who is receptive to your questions early and often. Fees have a place in
the formula but don't let them obscure the real issues.
Lawyer's fees present several conundrum, like:
» I want it for cheap,
but if (s)he's sooo cheap; how good could (s)he be? Price is only a single factor in picking legal counsel. In over 30 years of
practice, I've seen that a client who selects a lawyer based on the fee may be forgetting that it is much more important to take the time to see if the lawyer
has the knowledge, desire and sensitivity to the people and issues to take
on the matter. The attorney whose prices are lower must know what those services
are worth!
The same thing goes for lawyers who need to offer to pay
all of the clients' costs in order to get your case. Financing a client's
case doesn't guarantee a lawyer with skill, tenacity and integrity. It
may be an indicator that the lawyer in question has to make up for some
deficit. A lawyer who comes on a good recommendation or can stand on his
or her reputation doesn't have to market himself or herself by being a
banker too.
» The"what if" myth
and the real conflict of interest.
A lawyer or law firm may offer a fee which varies as follows: if
settled the attorney's fee is x %, but if filed x+5%, but if arbitrated:
x+10% but if tried x+15%. Shy away from the lawyer that offers a contingent
fee but has a variety of conditions which (s)he controls determining
the fee. It is often up to the lawyer whether the case settles without
filing suit, going to arbitration or going to trial. If counsel controls
the variables, the fee arrangement may simply be a "shell game."
» How big is my piece
of the pieā¦and while you're at it: how big is this pie? No matter what the fee is, it's meaningless unless the
result is maximized. A client's analysis of what the net recovery will
be is better focused on the skill of the lawyer than the amount of the
fee. The greater the skill in prosecuting the action under a contingent,
hourly or hybrid fee arrangement, the greater the opportunity for maximized
results. If plaintiff's counsel's fee is a smaller contingency but the
recovery is a smaller result, the net recovery still may be smaller than
if the fee is a larger percentage of a larger gross result.
» Ask the fee question early,
but weigh your decision to hire a lawyer heavily on your perception of
the degree of integrity, understanding and skill that your lawyer brings
to your case.
Long after the fees are paid,you will be living with the
case results. You'll want to be sure your lawyer's
work brought your case to the best conclusion, in light of all the
facts and the law.
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