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.
Klein & Wilson‘s billing rates are a fraction of the firm’s competitors. Klein & Wilson is willing to consider alternative billing methods such as flat fees, capped fees, collard fees, and contingency fees.
Flat fee and capped fee arrangements are ideal for cases/assignments where the amount of work can be predicted with accuracy and the client cannot exceed a budget because of its financial issues. Under a flat fee billing arrangement, Klein & Wilson will quote a flat fee for specified work, and the client must pay for out of pocket expenses such as court filing fees, witness fees, and transcript costs.
In a capped fee arrangement, Klein & Wilson will guaranty that its work on a specific assignment will not exceed a quoted budget. If the firm completes the work without reaching the cap, the client realizes the savings. If the firm exceeds the budget, the client does not pay more than the quoted budget.
In a collared fee arrangement, the firm will set a target fee for specific work. If the firm completes the work under budget, then the client will pay the firm a bonus. If the firm exceeds the budget, then the client will pay the firm to complete the budget at a reduced hourly rate.
In cases where (a) the client’s compensatory damages unquestionably exceed $2 million and (b) we can confirm the target defendant has sufficient assets to satisfy the anticipated judgment, Klein & Wilson will consider accepting a case on a contingency fee basis, or a modified contingency fee basis – where all, or a portion of Klein & Wilson‘s fees are based on money collected in settlement, or after a trial. Klein & Wilson will accept cases on a contingency fee basis when the client advances all expenses (e.g., expert witness fees and deposition costs). Before calling us to discuss a case you want handled on a contingency fee basis, please read this article.
Feel free to discuss with Klein & Wilson which fee structure works best for you.