fees

Question 1

what must fees be

Answer 1

reasonable

Question 2

what are the four factors used to determine if a fee is reasonable?

Answer 2

time and effort

novelty

amount in controversy

precluding employment

Question 3

when the fee is discued, can it be changed later

Answer 3

no!

Question 4

what are the two types of novelty we consider in determining reasonablness of fees ? how do we know if to charge more

Answer 4

if new to you - not reasoble to charge more for you to learn about it

new to everyone – may be reasonble to charge a little more

Question 5

does a fee arrangement need to be in writing? what is the exception

Answer 5

no,, just needs to be communicated BUT contigecy fees must be in writing

Question 6

when can you never have a contiency fee?

Answer 6

family law or criminal cases

Question 7

do contengecy fee agreements need to be signed by clients

Answer 7

yes, always

Question 8

what must a contengency fee arramgnet have

Answer 8

client signature and a calculation methodology for fees and expenses

Question 9

what is the basic rule when it comes to retainers

Question 10

at the end of the day, what is the retainer

Answer 10

still the client’s money!

Question 11

where should unearned legal fees go

Answer 11

in an ESCROW account or trust accont

Question 12

where should unearned fees go

Answer 12

back to the client

Question 13

where should costs advanced to the client go

Answer 13

in escrow

Question 14

what should the accounts of a lawyer and clients be

Answer 14

SEPEREATE

Question 15

what do we mean by interest in client as a fee

Answer 15

the lawyer takes something from the client instead of a fee(ie like stock or a mortgage on the client’s property)

Question 16

what is required if a laywer takes an interest in a client as a fee (or business transactions w client) 4 in all

Answer 16

1. terms must be in writing
2. terms must be fair and reasonable
3. atty must advise client in writing of imporatce of hiring independent counsel to look over the agreement
4. informed consent in writing signed by the client

Question 17

can lawyers share fees with each other?

Answer 17

yes

Question 18

via fee sharing btwn lawyers, what three things are needed for the referring atty to receive a portion of the fee

Answer 18

1. the overall fee must be fair to the client;
2. the fee sharing arrangement must be disclosed to the client AND
3. the referring lawyer must provide actual services or joint rep

Question 19

can lawyers share legal fees with non laywers

Answer 19

no