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Difference between revisions of "Lawyers' Fees"
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[[File:Consumer_Law_and_Debt_-_Lawyers_Fees.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]] | [[File:Consumer_Law_and_Debt_-_Lawyers_Fees.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]] | ||
Lawyers have three main ways of charging for their services: | Lawyers have three main ways of charging for their services: | ||
* '''Hourly rate | * '''Hourly rate''': Rates vary considerably depending on factors such as level of lawyer experience and complexity of a case.
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* '''Flat rate | * '''Flat rate''': Lawyers may quote a flat rate for a particular service, such as a will or conveyance.
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* '''Contingency fees | * '''Contingency fees''': This is when the lawyer’s fee is based on a percentage of the money recovered in a legal action. Percentages vary, depending on several factors, but may range anywhere between 15% and 40%.
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Fee payment arrangements vary, depending on factors such as the type of case. In many instances, a lawyer asks for a retainer — a sum of money up front to cover fees for services as they are performed. The lawyer must keep that money in a separate bank account, called a “trust account”, until the services have been performed and a bill has been sent to the client. | Fee payment arrangements vary, depending on factors such as the type of case. In many instances, a lawyer asks for a retainer — a sum of money up front to cover fees for services as they are performed. The lawyer must keep that money in a separate bank account, called a “trust account”, until the services have been performed and a bill has been sent to the client. | ||
