How do you plan on paying your West Palm Beach probate attorney? Did you know there are three ways to negotiate a fee structure and that you may be able to pay contingent on recovery? What type of fee arrangement works best for you and your needs in West Palm Beach?
Three Sets of Fees
- In general there are three ways to set up a fee structure with a Palm Beach probate attorney.
- That being said there are intricacies and changes that can be made from these plans.
- Customization is always possible just talk to an attorney and explain what you want, surely a compromise can be reached.
- That being said what are the three forms of fees in West Palm Beach?
Flat Fee
- The simplest form is a flat fee.
- This is where you agree on the amount at the start and the attorney cannot ask for more just because they spent more time on an issue.
- The downside of these is that it can be hard for you to determine what a fair fee is.
- Surely the probate attorney has unequal bargaining power here.
- That does not mean that this is a bad or unfair set up though it all depends on the specifics.
Contingency
- Many attorneys in other fields like personal injury advertise this sort of fee structure.
- Basically these structures guarantee that you will pay only if the attorney is successful in getting you money.
- This may be a great option in a risky will contest for example.
- Many attorneys are willing to make hybrid contingency arrangements where you pay a reduced hourly fee with a success fee for all money recovered.
Hourly
- Of all the fee structures this is by far the simplest to negotiate and the simplest to understand.
- You simply agree on an hourly fee and pay according to your bill.
- The upside to this is you will get what you pay for that is almost guaranteed.
- The downside is these can trigger unexpectedly high bills at the end of the month, messing up your finances.
- If you are concerned about this though you can discuss fee caps with your attorney whereby they stop working once the fees reach a certain amount.
- That being said it is very hard to win a lawsuit if you are concerned about hourly quotas.