Hourly is often more cost effective
Make no mistake, attorney’s collect lots of fees with contingency pricing. This may come as no surprise, but attorneys are not required to accept cases. An attorney will only accept a case on contingency if they know they will win (or at least settle).
Paying your attorney by the hour is by far the most cost effective way to pay for legal representation. Nine out of ten times attorney fees are going to be drastically lower paying by the hour.
Advice on how to decide
Ask the attorney how many hours they expect to spend on your case and why. All cases are unique, but an attorney should be able to provide a rough estimate of the average time spent on cases like yours.
Let's Explore this concept with an Example of a will contest
Calvin (client) is contesting the probate of his father’s will. Calvin’s father’s mental state had been declining for years and as such Calvin believes his father lacked capacity to execute the will.
For sake of this example, let’s assume Calvin would receive $150,000 if the will is probated, but would stand to receive $200,000 if the will was not probated.
Calvin’s attorney charges $300 per hour or 30% recovery on contingency if the case is settle before trial and 40% if the case is settled at trial.
Calvin’s attorney advised him that a will contest based on lack of capacity usually takes between 40 and 120 hours depending on whether a trial is required.
The cost hourly would be between $12,000 and $36,000. Whereas the lowest amount on contingency is $60,000 before trial and $80,000 after trial.
These calculations speak volumes. This is why obtaining a case evaluation is crucial to making a decision about how to pay attorney’s fees.
$300 case evaluation
Discussing Attorney's fees is important to me because I value client expectations and concerns. My job is to present options tailored to your situation and to assist you in making informed decisions. I founded ROI based on Christian values of honesty, kindness, and generosity. I strive to live those values everyday and as such I foster the best relationships with clients who are knowledgeable about the process and are clear about my fees. I advocate hourly fees because they are often the most cost-effective way to pay fees. I warn clients against contingency because it often leaves them feeling violated as a large percentage of their rightful inheritance is paid to the attorney. These feelings are often intensified if the matter settles early in the representation through mediation.
