Business Law and Litigation
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Frequently Asked Questions
Table of Contents
Finding a Lawyer
Q: Should I try to find a lawyer near
my location?
Q: Should I hire the
least expensive lawyer I can find?
Q: Is the lawyer with
the lowest hourly rate less expensive?
Q: How much money must be at risk before I hire a lawyer?
Q: Should I hire a large firm or a
small firm?
Retaining a Lawyer
Q: How much does a retainer cost?
Fraud Questions
Q: I was cheated. Should I sue for fraud?
Frequently Asked Questions
Finding a Lawyer
Q: Should I try to find a lawyer near my location?
A: Not if the lawyer will come to you and not charge for travel time. Normally there is little need
to meet the lawyer once you have hired him or her. Lawyers are in
the service industry and should be willing to meet you at your
office - at least for the initial meeting. Lawyers of wealthy
clients are treated this way. With the prices lawyers charge, this
service should be available in most circumstances where legal fees
are expected to exceed $2,500.
Q: Should I hire the least expensive lawyer I can find?
A: Yes, if the skills, experience, and support tools available to the
lawyer are the same. Through Internet subscriptions, even sole
practitioners can have the research resources formerly available
only to the largest law firms. Ask the lawyer what library resource
are at his or her disposal. Ask whether there is a separate charge
for online research.
Q: Is the lawyer with the lowest hourly rate less expensive?
A: Not if the lawyer is inefficient or does not have expertise with your
legal issue. Often a more experienced lawyer with a higher hourly
rate will cost less overall than a young lawyer with a lower rate.
Beware of law firms that have your legal work done by associates.
Often the associates must bill a minimum number of hours and could
bill your file just to meet their assigned billing quota.
Q: How much money must be at risk before I hire a lawyer?
A: Usually it takes the same amount of legal work to handle a $100 problem
as a $100,000 problem. Most law offices must perform elaborate
procedures to take on a new client. There are conflict checks and
the work required to set up the file and the electronic database.
Many law firms expect a new file to be worth over $5,000 in billing.
An alternative is to have a lawyer on a retainer agreement. See
"Retaining a Lawyer" below.
Retaining a Lawyer
A: If your are likely to need a lawyer every year or so, if could be a good
idea to have a lawyer or law firm on a retainer agreement. That way,
your file is already established at the firm and you can call for
advice at an hourly rate. It is helpful to have a lawyer on call who
knows you and your situation. It is often difficult to educate a
lawyer quickly in an emergency.
See Tollefsen Law PLLC retainer
policies.
A: A pure retainer is a fee paid to a lawyer or law firm to be
available to represent you. Some retainer agreements include a
contracted amount of work per year. Others charge normal fees in
addition to the retainer. Others are hybrid and can be designed to
meet your objectives.
Q: How much does a retainer cost?
A: Costs vary widely depending on the reputation of the lawyer and
market conditions.
A: We are willing to work on a flexible fee arrangement including
fixed fees or even a contingency fee if the defendant is financially
strong. Our hourly rates are between $75 and $350 depending on staff
member involved and the expertise needed.
More...
Fraud Questions
A. Fraud is the technical term for a legal cause of action that is difficult to prove because it has nine elements. More information on the definition of fraud.
Q: I was cheated. Should I sue for
fraud?
A. Usually there is another cause of action available that is easier to prove. Consumer protection and securities fraud cases have fewer elements to prove which have been defined by statute. More information on litigation.
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About Certified Fraud Examiners
Entrusting your case to a CFE is the sensible decision in financial fraud cases. More...
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