Cost is an important factor to many individuals who are looking to hire a legal firm. The fees which are charged by the legal firm can depend upon many things. You should sign a contract agreement when authorizing a legal firm to work for you. It should specify how you will pay (hourly rates, contingency fees, flat fees, or retainers) and the cost will vary based upon the specific legal service (research, drafting of documents, filing fees, court hearings, traveling).
Flat Fees: The legal firm provides a specific service for a specified set fee.
Contingency Fees: The legal firm is paid only when money is collected for you, usually a percentage of the amount recovered. However, you will be expected to pay some cost “up front” such as filing fees, court cost and cost of discovery.
Retainers and Hourly Fees: The legal firm often will ask for a retainer, or advance payment, before working for you. Some retainers will be “non-refundable” should you change your mind about proceeding with legal action. You should be aware of that and also understand if the hours billed will be billed from the retainer or in addition to the retainer. You should receive an itemized statement listing services provided and fees charges.
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