When you are involved in legal action, it has cost implications, and the most important of them is the Lawyer's Fee. Whether it is a property dispute or accident claim you are looking to settle, the services of lawyers play an essential role in it.
However, it is wise to be aware of the different types of costs involved in a legal issue before you avail services of lawyers.
The Lawyer's fee and compensation would depend on various factors like the law firm you choose and the event's circumstances. In this article, we look at some of the aspects of the legal fee that you should be mindful of.
Types of Lawyer's fee
Before the commencement of your representation, you must discuss the arrangement of the Lawyer's fee so that you know about cost implications.
These costs may vary and depend on various factors like the amount of time the lawyer spends on your case, the reputation of the Lawyer, and other overhead expenses. Here are few common types of fee structure for your perusal:
Consultation Charges
The consultation charges of the Lawyer depend on various factors, and you may be required to pay these costs upfront. These charges may be hourly or fixed.
It is better to know these charges before you enter your Lawyer's office. Some lawyers offer free chat on their website, like moloneyandpartners.com.au, where you can get an idea about the initial consultation charges.
Retainer Charges
A critical component of the Lawyer's fee is the retainer charges taken from the client in lieu of future expenses or costs. These are usually non-refundable and may vary upon the law firm.
Contingency Fee
In some cases, the Lawyer's fee is commissioned upon the settlement amount. However, not every time one ends up winning the case. Sometimes, you are still required to pay certain costs to the Lawyer for time spent or expenses incurred, which is termed as a contingency fee.
Referral Fee
When a lawyer refers you to another lawyer, they can still ask for a part of the total fee of the case. It is called a referral fee.
