Billions of dollars are spent every year when it comes to succession and estate planning. The fees change with time, and haven’t shown any signs of slowing time even with changes in the economy.
The fees you pay are used by the lawyer to make sure you get valuable and efficient services. Let us look at the justification for the fees, and what you need to know about the different charges.
The Lawyer Follows the Stipulations in the Agreement Letter
When you meet with your estate planning lawyer for the first time, you will reach an agreement regarding the work he will do for you and how much you will pay.
The payment can be hourly, per task or a flat rate depending on your job.
The good thing is that whatever you agree with the lawyer will come to pass. The provisions of the agreements will be handled by the lawyer to the best of his ability.The lawyer will listen to you, and come up with the best rate for the task at hand. Usually you get to re-negotiate the terms when something else comes up.
When you meet with the client for the first time, make sure to ask about their fee, then decide whether it suits you or not.To make sure you don’t get exploited due to your inferior negotiating skills, every state has a professional code of conduct and responsibility that applies to lawyers in that state.
Any Promises Made Will Be Enforced
The promises that you get from the lawyer will stand. If you are working with our lawyers, then chances are highly likely that the lawyer will go above and beyond what you have been promised.
When you get a bonus service, you aren’t compelled to pay for it.Review the Bill Sooner Rather than Later
Clients are advised to address any problem that they have with the payment sooner rather than later when the lawyer has started enforcing the task. This will point out any concern, if any, and the lawyer will work with you to reduce the costs without affecting the job.
If a lawyer that you work with refuses to discuss the payment, then you need to put the concerns in writing, and end the relationship. Remember you aren’t tied to any particular lawyer – you need to work with someone that understands you at all times.
The disadvantage of not handling the bills with your lawyer is that the bill will still stand. Finally when you raise the issue and the job has already been done, the lawyer will say that you agreed to the bill.
A Fee Dispute Cannot Make a Lawyer Stop Working With You
When you have a payment dispute with your lawyer, it doesn’t mean that the lawyer will stop working on your case. The best thing that happens is that the lawyer will find a common working ground where the fee is reasonable.
However, if you feel that the cost is too much, then you can fire the lawyer, or you can source the relationship from both ends so that it doesn’t make any sense for you to continue with the relationship.
The Lawyer Has a Lot to Lose When He Overcharges You
When it comes to overpriced litigation costs, the person that loses more is the lawyer.
This is because the professional judgment of the lawyer rests on every case that he handles. With the advent of social media, you can leave a negative rating for the lawyer and this will affect his standing in the firm. This will also spoil his reputation in the community.
A fee complaint usually leads to an ethical complaint, and this can turn into a malpractice claim. This is why the lawyer has to try as much as possible to make sure the charge is reasonable.
Research is Paramount
Before you meet up with a lawyer, you need to make sure you have some information about the prevailing rates on the market. This makes it easy so that when you meet the lawyer, you have a starting point. Take time to talk to friends or go online and perform comparison shopping for a lawyer.
In Closing
The fee you pay for a lawyer depends on various issues, including the type of case you have, the magnitude and the prevailing costs. However, it is usually good to work with an estate planning lawyer that charges you a reasonable amount and delivers the case as agreed rather than work with someone that charges you peanuts but doesn’t deliver expected results.
