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Examining the Legal Billing Rates |
by:
Mart Gil Abareta |
Every time you want to avail legal assistance, your finances are also one of your biggest considerations. I�m speaking here in terms of legal billing rates. These rates really vary based on the experience, prominence and prerogative of the lawyers. Lawyer fees differ. Now, the big question is � Are these fees reasonable for clients like you? Is it just enough for the lawyers?
An article entitled �Guide to Legal Services Billing Rates� says that most lawyers will tell you that the practice of law is a noble profession dedicated to the pursuit of truth and justice. But anyone looking to hire a lawyer must realize that practicing law is first of all a business. As a result, lawyers in private practice are going to charge what the market will bear in order to make a profit from their services. Understanding this and having a basic knowledge as to how lawyers� charge for their services may help you to negotiate the best deal when you need to hire one.
I must say that all of the payment arrangements stated in the said article are not more than enough. I think, they are just enough to compensate for the time and effort a lawyer will spend in your case. These arrangements include hourly rates, flat fees, retainers and contingent fees. The lawyer has the opportunity to choose the payment plan that you�ll have. However, the client can still open up his views if he disagrees with the lawyers� offer. It�s still up to them to decide about the final payment arrangements.
In addition, there are certain factors impacting lawyers� fees such as advice, outcome, overhead, experience, time and effort, difficulty of case, prominence of lawyer, geographical location, and preferred client discount. All of these affect the choice that a lawyer makes regarding the payment arrangement that the client has to comply with.
Indeed, it�s important to understand how these fees are being treated under the different payment arrangements. The decision if what type of payment best suits your paying capabilities still depends on a good communication between you and your lawyer. It may be hard to compensate for this high-paying job but then it will be your reputation that�s at stake here.
Generally, it�s always better to fairly settle everything first � especially in terms of legal billing rates � before commencing any legal proceedings. Through this, you�ll certainly have a smooth-sailing relationship with your attorney towards the success of your case.
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