Last December, two law firms that had done work on a class action lawsuit in Delaware were awarded $305 million in legal fees, a massive sum considering the case took less than 9,000 hours to close (that’s over 30 grand an hour). As with many services where professionals are required, attorneys are entitled to add their mark-up to your costs, whether it’s a real estate agent brokering a home or a lawyer winning a lawsuit. But when do the added costs become excessive?
Why We’re Asking:
If you’ve won money in a lawsuit, legal fees are a lot easier to stomach. But what about cases where you must pay your costs out of pocket? Legal fees can come in any number of forms, from hourly charges to contingent fees, flat fees, and retainers. No matter how they add up, you want to ensure that you’re getting the most for your money. We’re always interested in finding new ways for clients to work more effectively with lawyers, so we’re turning to our panel of attorneys to find out more about fees and legal costs.
So it’s time to weigh in:
How Should Clients Evaluate Legal Fees?
Does more money ensure you’ll win?
What are some tips for spending money effectively on legal services?
Are there online resources that can answer simple questions you might otherwise have to pay for?
Is there work you can do before seeing a lawyer to ensure you aren’t running the clock unnecessarily?
Is it best to have a lawyer on retainer?
When should a client choose hourly vs. contingent or flat fees, and vice versa?
The last thing you want to worry about when getting involved in a legal case is the cost. Check back later in the week to find out how to get the best services for your dollar.
Post your answers in the comment field below!