Question
does my answers make any sense??? Explain the differences among law office billing procedures, specifically, the differences involved in billing on a contingency basis, a
does my answers make any sense???
Explain the differences among law office billing procedures, specifically, the differences involved in billing on a contingency basis, a flat fee basis, and an hourly basis.
- A contingency fee is the billing procedures in which the attorney gets no money from the client until there is some financial recovery, settlement or judgment. At that point the attorney will, by agreement, get a percentage of the recovery plus reimbursement for the attorney's out of pocket expenses (filing fees, expert witnesses, etc.). This type of fee is most common in personal injury / malpractice cases.
- Flat fees are just that. It is a set fee for seeing the matter through to completion. For example, a real estate closing for $500 or a simple will for $700. That is flat fee billing. It is usually paid at the conclusion of the matter. In fact, most state bar rules require that the retainer be kept in the trust account until the matter is completed
- An hourly rate a type of billing in which the attorney keeps track of his or her time and bills the client a set hourly fee every month for the time spent on the case. This is common in litigation, civil matters, and criminal matters. Often, in larger firms, there will be multiple attorneys working on a case and they may bill at different rates. Often in larger firms, the paralegal time is always billed in hours at the paralegal rate.
Discuss the advantages and disadvantages of working as a freelance paralegal.
Working as a freelance paralegal is often viewed as an interesting and often exciting professional path. It allows paralegal professionals greater freedom in determining the hours they want to work and the attorneys or law firms with whom they want to work. This type of work often eliminates the monotony associated with the paralegal profession, thereby allowing freelance paralegals to enjoy a diverse work environment and varying professional duties. Unlike traditional paralegals, freelance paralegals must be prepared to market themselves in such a manner as to convince attorneys that their services are superior to other freelance paralegals. They must also be constantly in search of new work, and a steady paycheck is never a guarantee. Some states allow a paralegal to work without an attorney helping people with forms and routine documents.
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