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What Types of Fees Are Charged by Lawyers?

April 26, 2017charged fees lawyers types

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What Types of Fees Are Charged by Lawyers?

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• Hourly Fee – Many lawyers may charge you based on the amount of time it takes to work on your case. It is common practice for your lawyer to ask that you pay an advanced payment or deposit based on the amount of time that your lawyer thinks will be needed in your case. Sometimes this fee is mistakenly referred to as a “retainer” fee and should not be confused with a true retainer fee as explained below. The lawyer is required to deposit this fee into a separate bank account called a trust account. The lawyer cannot withdraw this money until it is earned by working on your case. • Flat Fee – In some situations, your lawyer may charge a one time fee known as a flat fee to complete the work on your case from beginning to end. • Contingent Fee – Depending on the type of legal matter, your lawyer may offer to take your case on a contingent basis. In other words, you would only be responsible for paying your lawyer a fee if the case is won or if it is settled before the case goes to court.