Legal Column Features Spencer Smith Article on Legal Fee Arrangements

An article written by McAfee & Taft shareholder and litigator Spencer Smith was featured in The Journal Record's "Gavel to Gavel" legal column.

The article discusses fee arrangements for legal services. Smith outlines the different methods of billing and fees: billing by the hour; contingency; a hybrid arrangement that includes a reduced hourly fee as well as a small percentage of any recovery; and blended fee arrangement where a flat hourly rate is billed for all attorneys working on the matter, regardless of whether it's a senior attorney or first-year associate.

Smith advises, "At the outset of any matter in which you need to retain legal counsel, you should memorialize the terms upon which you will be represented. ... By understanding and agreeing upon the manner in which your lawyer will be compensated before the representation begins, you minimize the risk of future disputes over your attorney's services."