As a small firm that is not bound by the layers of management that can be found in a large firm, RM has the flexibility to consider alternate fee arrangements. The majority of cases will fall under one of the three types of agreements:
1. Hourly fee – This type of case typically involves the payment of a retainer and your case will be billed at an agreed-upon hourly rate in tenths of an hour. For instance, a four minute phone call or an e-mail response would be billed at .1 of an hour and the cost would be billed at one-tenth of your hourly rate.
2. Contingency fee – Under this arrangement RM’s fee would be calculated as a percentage of any funds collected pursuant to a settlement or collection on a judgment – the “we don’t earn a fee until you recover” scenario often seen with personal injury firms. RM’s percentage depends on the type of case. NOTE: Under applicable rules of ethics, family law cases cannot be handled on a contingency fee arrangement.
3. Blended fee – While not as common as option (1) or (2), certain cases may be appropriate for a blended fee agreement. This type of agreement can involve the payment of a flat fee up front with an agreement that any fees above that will be earned on a contingency basis. Another possibility would be to handle the defense of a claim on an hourly basis and the prosecution of a counter-claim on a contingency basis.
Please feel free to call us if you have any questions concerning available fee arrangements or if you want to discuss the details of your case.