Answering the Essential Question: How Much Will this Cost?
I believe that an attorney’s duty of trust and transparency with a client extends to financial matters as well as legal ones. Budgeting costs and expenses are necessary for any litigation, and a client can’t do that unless they know what to expect beforehand.
All cases are different, and I am always willing to discuss price and work with the needs and circumstances of clients. Below are standard rates to give examples of different pricing models.
Option 1: The Classic Retainer and Hourly Rate
Our standard retainer is $2,500, and our standard hourly rate is $250 per hour. This is somewhere in the middle of what other law firms charge in the Nashville area, but feel free to compare this rate to others to find a firm that suits you best.
A “retainer” essentially refers to a deposit that pre-pays for future legal fees. Ideally, this helps a client budget their costs and allows for a client to have continued representation even if their financial circumstances might temporarily change. A retainer is held by the law firm in trust until it is earned, so even if a client decides to go a different route, any remaining money in the retainer that has not been earned by the law firm is not “lost” and can go back to the client after an attorney withdraws.
Option 2: A La Carte Representation
Not all cases are the same, and no case can be predicted from start to finish with 100% accuracy. However, some tasks are done so frequently in every case that it is easier to give more concrete estimates of what exactly that task will cost the client if the client wants it done. “A La Carte Representation” means that the firm charges a standard hourly rate for tasks which might require a variable amount of time, but charges a flat rate on a task-by-task basis for things which have a predictable time for completion. This allows a client to budget out their case and choose specific actions based on what they can afford.
Here is an example table that sets out potential flat rates on a task-by-task basis. Even if you do not want A La Carte Representation, it is a good reference for how much each matter might generally cost under an hourly rate.
Option 3: Limited Scope or Custom Representation
Sometimes a client needs a specific task done, rather than a full-scope representation in an extended litigation. This is called “limited scope representation,” where an attorney comes on in a matter only temporarily for a specific purpose and concludes the representation when that specific purpose is accomplished.
Sometimes a case does not fall into an easy billing pattern, or a client’s circumstances require a different billing schedule than the other two options above.
Every case is different and every circumstance is unique to the client. I’m always willing to discuss alternate options to suit the needs of a potential client.