My lawyer cost how much!?!?

One of the biggest shocks for people who retain an attorney for the first time is the cost.  You would think that the attorney would warn clients about how much things cost in advance, and many of us try to.  But those warnings either fall on deaf ears or are not as impactful as receipt of a monthly bill for $5,000 or $10,000 (or more).

Going in to litigation, you need to understand that, even with the most efficient, cost effective attorney, you are going to spend more money than you want.  This is especially true where you are sued as a defendant, and feel that you have not done anything wrong.  One of the painful truths that arises from this fact is that most cases settle, even if they have little or no validity.

So - if you are going to participate in litigation, you need to go in eyes wide open.  You need to assess, before significant legal fees have been incurred, what your expectations are with respect to the outcome of the case, and what will be the optimum result, given the realities of modern litigation.  This is an extremely hard step to take, because at the outset of the case you are too emotionally invested: you are angry and want justice.  Only after you receive a significant bill from your attorney will you step back from that anger, and decide that a settlement for less than "justice" may suffice - too late.

I note, however, that the above advice will not guarantee that you avoid the hefty legal fees.  The problem is that early in the litigation process, neither side really has a perfect understanding of the strengths and weaknesses of their cases.  Additionally, even if you go in with a rational approach, there is no guarantee that the other side has the same mindset, and you need to be careful that you do not set a settlement floor (or ceiling) too high or too low early on.  Having said that, it is still best to continue down the path of litigation and settlement negotiations with an understanding of the pros and cons of your case and the costs that you face if you do not settle, or if you settle but after significantly more litigation efforts.

My next post will provide common legal terms and their meanings.  If you have a specific term or word that you would like some explanation of, please let me know in the comments.  Thanks!