“So how much is this going to cost?”
That’s the question I always hear from prospective clients. It doesn’t matter if they’re large or small businesses, individuals, family offices, or trustees. And it’s a perfectly sensible question that affects the bottom line. We require a retainer for all matters, which is not an estimate of the fees and expenses we anticipate a particular matter will cost, but rather is meant to secure payment throughout the representation of our clients’ legal interests. We also reserve the right to request an increased retainer if the circumstances warrant (i.e., if required to make a formal appearance in any litigation, contested matter, alternative dispute resolution process, or administrative proceeding). The overall cost of a particular matter depends on the nature of the case, the number of parties involved, whether the matter is contested, and the amount of due diligence required to render a constructive course of action for our clients.
For business transactions, for instance, factors will include the nature of the transaction, the number of documents to be prepared, the level of negotiation with counsel and/or intermediaries for the other side(s), and regulatory and compliance considerations. Toward this end, our hourly rates are tailored to the specifics of the case, with an eye toward realizing maximum efficiencies at the least cost for our clients. Our hourly rates for associate attorneys range from $175-$225; for shareholders, $300-$500. Our minimum retainer for contested administrative law and litigation matters is $10,000, and our minimum retainer for transactional matters is $5,000. We also offer fixed fee arrangements on business formation documents and basic wills and directives, starting at $1,500.
As attorneys and counselors at law, a fundamental aspect of our services includes advising clients on the costs of whatever matter we’ve been asked to review. While the ultimate cost of legal services is subject to many variances, we endeavor to communicate with our clients throughout our representation, which includes actively listening to them, and informing them of substantial costs before they receive their invoices. By doing so, we’re able to better serve our clients and achieve more effective results.
© De Leon & Washburn, P.C. This article is provided for informational purposes only. It is not intended as legal advice nor does it create an attorney/client relationship between De Leon & Washburn, P.C. and any readers or recipients. Readers should consult counsel of their own choosing to discuss how these matters relate to their individual circumstances. Reproduction in whole or in part is prohibited without the express written consent of De Leon & Washburn, P.C.