My current rate is $300 per billable hour. All of my time spent on your matter is billable regardless of the activity performed, but at the same time, I am not a greedy person. Hourly rates are tracked to the nearest 0.1/hour, and I round down when appropriate to show the client that I respect their wallet. All costs incurred including court costs, publication costs, substantial postage, substantial printing and copying, and so forth, are reimbursed in addition to the hourly rate. Nominal printing and postage costs are generally waived, because again, not greedy, and these are just a cost of doing business. The below areas may be appropriate for a flat fee, on a case by case basis. In addition, if you need an attorney who practices in an area that I do not, I am always happy to refer you to a trusted colleague. Sometimes, the attorney receiving a referral pays me a referral fee, within ethical constraints, and this is usually in car accident and other personal injury cases. Referral fees are generally paid out of the retained attorney’s fee and thus have no effect on the client’s share of the recovery.
Estate Planning. A revocable living trust, “pour over” last will and testament, general durable powers of attorney, healthcare powers of attorney, living wills, and one transfer on death deed is billed on a flat fee basis $2,500 for a married couple, or $2,000 for an unmarried individual. Estate plans based on a last will and testament (without a trust) cost half as much at $1,250 for a married couple and $1,000 for an unmarried individual. These types of plans include the last will and testament, general durable powers of attorney, healthcare powers of attorney, living wills, and one transfer on death deed. The more complicated a plan, the more likely a trust is needed. I always advise my clients whether I recommend a trust based plan or a will based plan at the end of the initial consultation, and regardless of my recommendation, it is always the client’s final decision on which plan to use. Flat rates include all fees and printing, filing, and postage costs (flat means flat!). Additional deeds or assignment documents incur an additional fee and filing cost, but the client is advised of additional costs during the initial consultation so there are no surprises.
Bankruptcy. A Chapter 7 bankruptcy is billed at a flat fee of $2,000 for the attorney fee, and several costs are included in the flat fee. In addition, the client needs to pay the Court $338, so the total cost tends to be $2,338. A retainer deposit of $1,000 is required to start work, and the remaining $1,338 must be paid before the petition is filed. This fee and cost represent the work required in a normal bankruptcy proceeding, and this cost does not include any litigation or adversarial proceedings. This is explained in detail in the schedules to the petition and the attorney representation letter. Chapter 13 bankruptcy fees are billed hourly at $300/hr, plus costs of $313 to the Court. $1,000 shall be required for work to commence, and the remainder of the fees and costs can be paid through the plan (as part of the plan payment to the Trustee).
Probate/Administration. Probate cases are billed hourly at the standard hourly rate. Every client is different in this area and has different needs which cannot be adequately predicted by a flat fee. A “normal” (i.e., everything goes as smoothly as possible) probate or administration generally costs around $5,000, but this is only an estimate of the minimum cost and not the maximum. An appropriate probate/administration representation takes as much billable time as it takes, based on the facts and law in your case. A simplified probate like a determination of descent or a small estate affidavit is usually a good candidate for a flat rate, on a case by case basis, after considering various factors like whether a will exists, and whether real estate is involved.
Business and Nonprofit Entity Formation. A single member LLC that is straightforward can be formed for a flat $750, which includes the filing cost. The flat rate for formation of a multiple member LLC with my standard operating agreement is $1,000, including the cost to file. If the members wish to customize the operating agreement, any additional time spent changing the standard operating agreement is billed at $300/hr. S Corporations can be formed for a similar flat rate, with bylaws provided. Nonprofit incorporation, standard bylaws, and application for 501(c)(3) status via the 1023ez form is billed at a flat $1,500, which includes the total attorney fee and the filing fees of $295. Time spent answering IRS questions is included in the flat fee as a courtesy.