Hourly rates for lawyers have gotten out of hand. At some firms, lawyers are charging over $1,000 per hour. At a rate of $1,000 per hour, a lawyer should be able to tell you the secret of eternal youth. But fee structures are not the only problems at law firms. At many firms, especially large firms, there are too many people working on a case. As a result, there is inevitable redundancy with several attorneys billing for the same work. Often, inadequately supervised associates run amok, billing many hours for which the client receives little value. Klein & Wilson's small firm structure gives clients more value for their litigation dollar. Moreover, Klein & Wilson's billing rates are a fraction of the firm's competitors. Klein & Wilson is able to do this through internal cost efficiencies which keeps costs down.
Klein & Wilson welcomes alternative billing methods such as flat fees. Flat fee arrangements are ideal for clients who have a limited budget they cannot possibly exceed because of their own financial issues. Under a flat fee billing arrangement, Klein & Wilson will quote a flat cost for legal fees paid over a period of time, although the client must pay for out of pocket expenses such as court filing fees, witness fees, and transcript costs.
In appropriate cases, Klein & Wilson will accept a case on a contingency fee basis or a modified contingency fee basis where Klein & Wilson's fees (or a portion of them) are based entirely upon money collected at trial or in a settlement.
Feel free to discuss with Klein & Wilson which fee structure works best for you.
Clients in legal malpractice cases often do not have the financial ability to take on a well-heeled attorney and the insurance companies that insure the law firm. To level the playing field, Klein & Wilson accepts certain cases on a contingency fee basis such that the client only pays a fee if Klein & Wilson prevails by way of a collected judgment or settlement. The contingency fee arrangement allows a client who otherwise would have to forgo a valuable claim to see a case to conclusion.
Because Klein & Wilson takes a substantial risk in accepting a case on a contingency fee basis, it typically requires a one-third (1/3) contingency fee, which goes up to forty percent (40%) once the case has been set for trial. This increase in the fee structure is the result of two important factors. First, the demands of trial are exceptionally high, thereby requiring a higher fee. Second, the longer the case is pending, the more work has to be done and, therefore, a greater fee is appropriate.
Where a contingency fee arrangement is not appropriate, Klein & Wilson will handle legal malpractice cases on an hourly fee basis or on a mixed contingency fee basis, where some portion of the fee is paid at an hourly rate and some portion of the fee is contingent upon the outcome. Klein & Wilson typically will only consider accepting contingency fee cases where the out of pocket damages exceed $1 million.
Contact Us for Contingency Fee & Legal Ethics Issues in Orange County
To reach our experienced attorneys about legal malpractice matters, e-mail Klein & Wilson today or call us at 949-631-3300 for a consultation.