Sunday, July 26, 2009

How To Save Money When Hiring a Lawyer

Alot of people are afraid to even call an attorney because they think it will cost too much money. I'm an attorney and I'm afraid to hire an attorney. But there are some things you can do to make sure you don't get ripped off or over-charged.

1. Get a Referral- Ask someone you trust if they can refer you to the type of attorney you need. Either a friend or someone who works with attorneys on a regular basis, like a financial advisor, certified public accountant or banker.

2. Interview at Least Two Attorneys- Find at least two attorneys who will tell you about themselves, their practice and the type of work they do. Make it clear when you call that you are interviewing to choose an attorney, that you are not asking for information about your case or legal issues, and confirm that there will be no charge for the call.

3. Ask If They Give A Free Initial Consultation- Many attorneys give a free half-hour initial consultation. Ask for it. Sometimes the attorney will talk about your legal issue for one half hour or an hour and will credit it towards your job if you hire them. Example: talk for 30 to 45 minutes about your estate planning, then just pay the flat fee for the estate plan if you hire them. If you don't hire them you pay for the 30 to 45 minutes at the attorney's hourly rate.

4. Ask For A Flat Fee- Many kinds of legal jobs can be done for a flat fee, that is, not at an hourly rate. Things like incorporating your business, creating estate planning documents, or writing a buy-sell agreement can be done for a pre-arranged amount. Even jobs that are normally billed based on a percentage of assets, like probate, can be done for an agreed upon amount.

5. Set A Time Limit- Even if the job is the type that is normally charged at an hourly rate you can limit the amount of time to be spent on your job. Just ask!

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