|
Fee Arrangements
Money spent on legal counsel and advocacy is some of the most important
money you can spend, and serious legal issues can arise
without warning. At Drew & McCallum, we strive to make high quality legal
counsel and advocacy affordable by utilizing a number of strategies. By aggressively utilizing technology
in the firm, we are able to keep our overhead lower than many other firms,
and we pass those savings on to our clients through lower billing rates than
other lawyers of comparable skill and experience.
We also employ a variety of billing methods. In addition to
traditional hourly billing with up-front retainers, Drew & McCallum also
offers alternative billing practices such as fixed-fee, mixed fee, and
contingency billing.
Hourly Billing
Hourly billing is the most traditional and often-utilized method of
structuring legal fees. Under this arrangement, the clients pay their
attorneys by the hour for the actual time spent working on that legal
matter. Generally in hourly billing arrangements, the firm requires an
advance partial payment (or "retainer") at the beginning of the
representation. When a retainer is required for a particular
matter, the amount of the retainer is set on a case by case basis and is
determined, in part, by the number and complexity of the legal issues
involved.
Fixed Fee Billing
Fixed fee billing may be appropriate for business clients seeking on-going
general counsel representation. By projecting the client's quarterly
or annual legal needs, the cost can then be spread over several months or
years so that the client avoids significant intermittent bills.
Fixed fee billing may also be used in some litigation and transactional work
when, by working closely with the client on their goals and the specific
legal tasks requested, we can determine up-front the amount of legal work
likely necessary to accomplish the client's objectives.
Contingency Billing
Contingency billing is a method of billing where the firm is paid a pre-set
percentage of the funds received by the client. This billing method
may be appropriate in a case where all or the majority of the client's legal
recovery is financial and where the likelihood of payment from the defendant
is also probable.
Mixed Fee Billing
Mixed fee billing is a combination of one or more of these billing methods,
perhaps also incorporating other methods of legal billing.
The billing methods listed on this page are the most common,
but only a few of the possible methods for structuring legal fees. When evaluating a new matter for a client, we look to the
complexity of the facts and legal issues as well as to our client’s goals in
making fee proposals.
Trust in your attorney and legal advocate must include trust
that you invested your hard-earned money wisely. We always remember that
it’s our responsibility to zealously pursue our client’s goals while
guarding our client’s financial investment in the legal process.

|