The Forman Law Firm, P. C. does not have a one-size-fits-all approach to attorneys’ fee agreements. Every case is different. Generally, attorney’s fees arrangements reviewed by the firm include the following:
- Hourly- where the client pays an agreed upon hourly rate for those working on the file
- Fixed-where the client pays a fixed amount of fees, without regard to time spent or result achieved
- Contingent-where the client pays a % of the gross recovery, if one is achieved, and regardless of hours spent
- Hybrid-any combination of the above components and formats which are fair and reasonable to the client
Forman Law Firm has found that most cases benefit from the Hybrid type of fee agreement, where the engagement can be tailored to each particular case and each client, based on the firm’s caseload at the time.
In considering a client’s request for engagement, and in proposing a fee agreement, the following factors are considered:
- the time and labor required, the novelty and difficulty of the questions involved, and the skill requisite to perform the legal service properly;
- the likelihood that the acceptance of the particular employment will preclude other employment by the lawyer;
- the fee customarily charged in the locality for similar legal services;
- the amount involved and the sources available for collection of any recovery;
- the time limitations imposed by the Client or by the circumstances;
- the nature and length of the professional relationship with the client;
- the experience, reputation, and ability of the lawyer or lawyers performing the services; and
- whether the fee is fixed, hybrid, or contingent on results obtained or uncertainty of collection.
With limited exceptions, clients are responsible for the out-of-pocket costs and expenses incurred in every case, such as research, filing fees, copies, travel, room and board, forum fees, court costs, expert witness fees, and other costs necessary or advisable in connection with the representation. For this reason, we routinely provide that the client must approve in advance any costs to be incurred over an agreed amount.