4 Types Of Legal Fees
If you need to hire an attorney, you should be prepared for the various fees that you will be charged for doing so. There are many stages involved when it comes to relying on legal counsel. It's ideal to know what to expect before you commit to legal contract of any type with your attorney. By knowing the fees most lawyers charge, this can prepare you in advance.
Consultation
The first meeting with your attorney is typically not a free one as many ads may suggest. The consultation with your lawyer will usually require you to pay for it by an hourly rate or set fee that is determined by this individual.
Contingency fees
If you have a personal injury case, you may be asked to pay the cost of your legal fees by the contingency method. This means that you and your lawyer will agree on a set percentage of any money that you're awarded to be given to your attorney.
The average rate that is typically paid with a contingency contract may range from 33%-40%. However, this amount may vary depending on some of the factors that are listed below:
- The time your lawyer spent on your case.
- The amount of the compensation that you receive if you win your case.
- The degree of experience that your lawyer has and how reputable this individual may be from the reviews given by past clients.
Hourly fee
You may be asked to pay for your legal services by the hour for many types of legal services. This is a common type of payment requested by attorneys. The average hourly rate charged by lawyers can vary drastically according to location, case complication, and lawyer experience, but you might expect it to range from $225-$520.
Retainer fee
Many lawyers will ask you to pay a certain amount upfront, and this is called a retainer fee. This works to ensure you will have this person take your case. This is done because many lawyers are always busy and don't want to spend any time on a case unless some type of payment is made in advance.
It's ideal to be prepared for any types of payments you will be required to make to your family law attorney or other lawyer. This can allow you to be more equipped when filing an injury case. Be sure to consult with a law firm in your area for any type of is necessary during any stage of your life for the most accurate legal advice.