We strive to provide a mix of fee options that will meet our clients' needs Three methods we think work well are (1) hourly fees, (2) flat fees, and (3) retainer fees. After summarizing these methods below, we discuss when our fees are due and reimbursement of costs.

Hourly Fees

Attorneys have traditionally charged clients for legal services by the hour. This has been our tradition as well. Since hourly billing is familiar to us and many of our clients, this fee option remains available to our clients. Hourly billing means that our billing professionals record the time spent on your case, whether it is drafting a document, reviewing documentation provided to us, writing letters and e-mails, meeting with you, appearing in court, or talking with someone on the telephone. We bill in tenths of an hour. The hourly rates for our professionals will be discussed and disclosed to you. In many cases, although the fees charged will be on an hourly basis, we can estimate the average cost that other clients have paid for similar projects in an attempt to provide clients with an estimated budget for the engagement.

Flat Fees

A flat fee is when we agree to perform services for a fixed sum that is quoted and agreed to at the beginning of our representation. Our flat fee quotations consider the scope and complexity of the project and are customized to the facts of each engagement. For example, although two couples may embark on estate planning, have three adult children each, and the same net worth, the couples' needs may be quite different. One couple may own a large portion of their net worth in real estate and the other might have a large portion of their net worth in qualified retirement plans. One might rely on a government pension for cash flow and the other might own a small business with plans for management succession. One couple may have concerns about their beneficiaries' ability to manage the inheritance and the other may have children who have creditors or potential creditors on the horizon. Our flat fee arrangements will take into account all factors described to us and, therefore, may not be comparable from client to client even when lifestyles are similar. When flat fees are quoted, the scope of the work will be defined and adjustments may be required if client goals change or if additional information is discovered.

Retainer Fees

This method of charging for legal work is usually used when a client has ongoing needs for legal work at regular intervals. With this method, a flat fee covering certain, predictable tasks is agreed upon and payment is made at regular intervals. We have identified two situations in which retainer fee arrangements work well. The first is when the client has an irrevocable life insurance trust that requires annual administration in order to collect gifts from the grantor, pay insurance premiums, distribute notices to beneficiaries, provide the annual “grantor” letter, and provide annual income and expense information to the income tax preparer so that returns can be prepared. The second situation in which retainer fee arrangements work well is when the client is dedicated to scheduled “check up” meetings with the client's team of financial consultants where the attorney is part of that team. There are other circumstances in which retainer arrangements are appropriate and work well for all parties. Check with us to discuss your specific needs and we will explore this method with you. In all retainer fee arrangements, we require that the client and the firm execute a written agreement setting forth the terms of the arrangement.

Timing of Payment

In addition to feeling comfortable that legal work is being done well, timely, and for a reasonable price, many clients are concerned about the timing for payment of legal fees. When you discuss the fee arrangement with one of our attorneys, you can expect that the attorney will also inform you as to the timing of your payments. In some cases, all fees must be paid before work can begin; in others, fees are billed at the end of a calendar month. In other cases, fees are billed in installments – either monthly, quarterly, annually, or when certain milestones are met in the case.

Pass-Through of Costs

There are some costs associated with legal representation that are unique to a particular case and should be passed on to clients. A good example of these costs are so-called “third-party” costs. These costs are incurred when we are charged a fee by a third-party in order to accomplish something for the client. Examples of third-party costs include a filing fee at the court, a messenger fee, travel expenses, or a fee for online, advanced legal research. We will address with you the costs you should expect to incur when engaging us to perform your legal work.