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The Mississippi Bar Association - 9 How Are Lawyers Paid

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You may discuss the matter of fees with your lawyer at any time. There are four principal methods for compensating a lawyer, though others may be agreed on. They are: (1) retainer; (2) contingent fee; (3) specific job; (4) hourly rate. In some cases lawyer fees are set by the court.

Retainer Basis
Individuals or a business may employ a lawyer on a retainer basis, a down payment toward the fee for specified legal services. In return for the retainer the attorney will work for you on any matter for which you may need his or her services. Additional costs may be added to the final bill for services involving extra time and effort on the part of your lawyer. Always request that your lawyer give you a receipt for the advance on the fee.

Contingent Fee
Another fee arrangement used in certain noncriminal types of cases, especially in accident and negligence cases, is called a contingent fee. Such a fee is contingent upon the lawyer obtaining monetary recovery for you. If no award is made, compensation may not be required. If an award is made, the fee will be a percentage of the recovery. Court costs and out-of-pocket expenses are normally a responsibility of the client. Costs and expenses of litigation may be taken from the amount awarded or settled upon.

Specific Job
One of the most common methods employed by lawyers for charging fees is for the specific job (divorce, wills, purchase or sale of property, title examination, etc.). There are some types of cases in which your attorney can tell in advance approximately what the charges will be; in many other instances he or she honestly can't. Thus charges for a will can range from $50 or less to more than $500, depending upon the complexity of your estate.

Hourly Rate
Sometimes the lawyer will base his or her charges on a fixed dollar amount for each hour spent on your behalf. This is called hourly rate. The hourly rate can vary from $15 to more than $100 depending upon the lawyer. Don't hesitate to ask your lawyer his or her rate and for an estimate of how many hours will be spent on your case.

Some attorneys may use a combination of fee arrangements.  A lawyer may ask you to sign a promissory note or cognovit note as security for fees.