This is a question that many clients ask before hiring Des Moines car accident lawyers. People need a lawyer in one way or the other at some point in life. It can be seeking a solution to a family matter, business case, or criminal case.
The cost of hiring a lawyer is not constant. It depends on the location, case type, and other attributes. There is a significant variance in billing structure for every case.
Other law firms or attorneys offer leeway in quotes for different types of clients. Some charge hourly or on a sliding scale for their services.
So, What Are the Costs for a Lawyer?
The plan to hire a lawyer is critical in solving legal matters. Usually, the cost plays a role in determining whether to hire a lawyer or not. Though it is necessary to have a lawyer on the sidelines, it can be invaluable to have an expensive lawyer in some cases.
It is therefore ideal to know how various lawyers cost for certain legal services. Some factors that determine the cost of an attorney include:
● The location or state
● An attorney's level of experience
● Case type and density
● The work involved in the case
After weighing various firms’ options, it is ideal to set a meeting with the lawyer. Discuss the case with the lawyer and consult on the charges or the average cost for various services.
Different lawyers' costs vary depending on the billing structures and type of law. Some fee structures may significantly affect the payment for various legal services.
Types of Attorney's Fee Structure
There are several billing structures for attorneys. Tom Fowler Law helps clients to understand the fee arrangements. The process precisely aids in letting the client know the expected amount.
Before a client hires a lawyer, they should understand the charges and the working terms. Here are the billing structures for a lawyer.
Hourly Rate
This is a common billing method calculated based on the hours the lawyer works for the client. The hourly cost is a standard way that the law firm bills for a paralegal's working time and office time spent on a case.
Though the hourly rate may be lower than the lawyer's rate, the law firm may compensate by delegating some duties. At times, this mode of billing structure may be a disadvantage to both the client and the attorney.
It is daunting for the client and attorney to track the number of hours spent working on a case. Furthermore, the client may not know the exact or fair amount to bill for the legal services.
At Tom Fowler Law, for instance, the hourly rate structure ranges from $250-$300 per hour. They offer their clients a room for negotiation and a one-on-one meeting between the client and lawyer.
Retainer Fee
This cost structure coincides with the hourly rate fees. A retainer fee is where a client is required to pay a specific sum of money as a deposit. The lawyer deducts their hourly rate from the deposit. What remains gets dedicated to the firm.
After the client pays the deposit, they are issued the retainer agreement. This document states the procedure the client should use to complete the balance. Some law firms in Des Moines, Iowa, charge an average cost of $2000 for a retainer fee. The rest of the payment is made on a specific timeline.
Contingency Fee
The contingency model of settlement is where the case requires some monetary settlement. This billing strategy does not require any additional or upfront fees from the client.
It is, however, ideal to note that when the claim is successful, the client is issued a settlement. The client is entitled to pay an agreed percentage to the lawyer.
This may be common to many civil laws across the states. A law firm like Tom Fowler Law takes an average of 30%-40% of the remitted amount. The client handles all the court costs and other additional fees.
The Bottom Line
Hiring an attorney can be complicated if the client does not know the average fee for the legal services. Before a client decides to hire an attorney for their case, they need to consult to find out the cost of the services provided by the lawyer.
Both parties should have an agreement on the payment procedures and the amount needed. Contact Tom Fowler Law to consult and hire an experienced lawyer for any case.
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