Introduction to Legal Fees StructuresJoshMarch 15, 20188 viewsCredit & Debt0 Comments8 views 0 One of the considerations to make when choosing a solicitor for any case is the associated costs. Paying high legal fees does not mean that you will get high-quality services. You need to work with a law firm that offers good services within your budget. Not only that, but you need to understand various payment plans and financing options. Your lawyer may also occasionally handle some issues in and out of court. Hence, you need a clear understanding of the charges involved for your representation and any out of court work as well. Here is a guide to help you understand legal fees better. Hiring a Reputable Solicitor The most important decision you will ever make when handling a legal issue is to hire the right lawyer. If you hire a reputable solicitor, he or she will explain all the fees and charges on your bill before you sign any deal. The advantage of working with a professional is that you do not only get full information on fees but also reliable services. The Legal Fees The next step after identifying a professional lawyer is to agree on the fees and charges. Your solicitor will explain the legal process in full and all the costs involved. Understand the nature of work involved, the time the lawyer needs to file a strong case, and any possible changes to the timeline. Some cases take longer depending on the decisions and responses of the defendant. A case may also take longer if your solicitor cannot find strong evidence to support your case. The best lawyers give their clients room to negotiate the legal fees structure. If you are sure you have found a good solicitor who understands your case, negotiate a discount of the fees if the quoted amount is too high. In fact, many law firms will give a figure with the expectation that the client may ask for a discount. While you negotiate for the lowest bill possible, do not compromise on the quality of services. Hourly and Fixed Fees Law firms offer two main methods of paying for legal services. You can pay you solicitor per hour or a fixed fee for the whole process. The advantage of agreeing on a fixed amount is that you can budget for the full cost and forget about the fees. Your responsibility will be following up on the progress of the case after the payment. Fixed fees do not mean that you have to pay the full amount at once. Lawyers offer a flexible schedule such that you can pay in instalments. However, this depends on the nature of the case and the company’s policies. For most cases, clients pay for the legal fees and charges out of pocket. You will need to include the legal fees in your budget and pay on time for the court case to proceed as scheduled. However, some cases qualify for government funding. These cases include discrimination issues, cases involving children adopted in care programs, housing, and benefits appeal cases. If your case falls into any of these categories, the government may offer financial help to meet your legal costs. Visit the relevant government authority’s website for more information and seek advice from your solicitor as well. If an insurance company or a trade union is responsible for legal costs, talk to them before hiring a lawyer. Some institutions work with specific solicitors. You may lose your claim for compensation of legal fees or disappoint your solicitor if you do not consult the entity from the start. Some solicitors strictly charge an hourly rate for their services. The amount varies depending on the solicitor’s level of education and experience. The amount also varies with the type of cases that the solicitor handles. The downside of an hourly charge is that you cannot easily estimate the total cost from the beginning. However, if you engage the right medical negligence solicitors, you can get a nearly accurate estimate of the legal fees. Firms such as The Medical Negligence Experts can provide this information for free, as they offer potential clients a free contact advice line which you can find details of on their website: https://www.the-medical-negligence-experts.co.uk/. Experienced solicitors can tell the nature of work required from the start in a case by looking at its details. And in other cases, lawyers will work on a no win no fee basis. This is often the case with medical malpractice cases. If you are dealing with a case of a medical error or negligence, the best medical negligence solicitors will often work based on this structure. Firms like will only have to be paid if you win your medical claim. Medical negligence claims UK can be unnecessarily long, especially when it comes to the NHS. But working on a no win no fee basis ensures that the cases closes in the least amount of time possible, without compromising your settlement amount. No win no fee agreements will make sure that your medical negligence lawyers give a 100% effort since there is an actual incentive to get the maximum settlement, without lawyers dragging cases to charge more hours. You can find more information on no win no fee lawyers at http://www.thebestlawyersguide.com/no-win-no-fee-lawyers. Legal Expenses Insurance Legal expenses insurance can also cover for legal fees as well. The purpose of this policy is to cover the costs of preparing and filing a court case including the cost of hiring your solicitor. The insurance also covers the legal costs that your defendant incurs in case you lose the case, court costs, and expert witness fees. Legal insurance does not cover any damages but the legal expenses you incur throughout the lifetime of the case. You can purchase legal insurance on your own but it is advisable to involve your solicitor in the process. The solicitor will offer advice on the best policy and provider to choose depending on your case. Also, legal insurance can be beneficial for a variety of reasons, not just if you’re getting sued. For instance, you can get legal insurance if you’re getting ready to buy a home for instance. Legal insurance will not only help you in case you need representation, a lawyer can be consulted if you need advice on deed transfers for example. Having legal insurance allows you to access a lawyer in times when you normally wouldn’t be able to because of high costs. Or in the case of medical negligence solicitors for instance, you could get a second opinion before you even file a case. Medical negligence lawyers will be more than happy to give you advice on the course of action to take or if you have the chance to get a good settlement and if your case is actually worth pursuing. Capped Fees Capped fees are another fee structure that many lawyers use to attract clients. Lawyers can agree to a certain maximum amount they can charge over the course of the case while providing an hourly fee. This will prevent costs from getting out of hand and this will allow you to budget for maximum costs. Since this puts the lawyer at risk, they may also ask that there is a minimal cap fee as well. Fee caps are usually used when it comes to transactional legal work. Fee caps are much less common when it comes to litigation because of the level of uncertainty involved. Large cases can have very high fees and the outcome is also uncertain as well. Understanding how legal fees and payments structures work is essential in any type of litigation. Make sure that you and your legal team are seeing eye to eye when it comes to fees is the first step towards a successful case.