| The Illinois Rules of Professional Conduct
require that "A lawyers fee shall be reasonable." Rule 1.5 lists the
factors which the Illinois Supreme Court has found to be relevant in determining the
reasonableness of an attorneys fee. (See the full text of RPC RULE 1.5 in our Library.) These include,
among other factors, the time involved and the difficulty of the issue, the experience of
the attorney, the results obtained and the fees customarily charged in the locality for
similar legal services. In addition to charging
only reasonable fees a lawyer has a legal duty to provide "competent
representation" (RPC RULE 1.1) and to explain
matters sufficiently "to permit the client to make informed decisions." (RPC RULE 1.4)
We strive to meet these requirements in three ways. First,
we limit our practice to those areas of law in which we feel we have competence. If a
client needs assistance in an area beyond our expertise we will either associate with
other professionals having the relevant knowledge and experience or refer the client to
other competent counsel.
Second, we
provide an initial consultation to
enable us to learn at the outset the client’s expectations in retaining our
firm for the particular matter involved. We can explain the legal and
financial considerations likely to arise and both parties can then make an
"informed decision" whether or not to proceed further.
Third, if there is mutual agreement to retain our firm, we
document in writing the scope of the representation, the fee basis (either TASK BASED or HOURLY) and any
special requirements of the project.
We recognize that most of the time the person who approves
payment of our fees is either spending his own money or is directly accountable for his or
her companys profitability. We want our clients to feel that they are receiving
value for the dollars expended. For that reason our monthly invoices contain the
same level of detail we would expect to present if the case were one that required court
approval of attorneys fees.
Shaw & Martin Task Based Charges
Task Based Charges are designed to add a
measure of predictability to legal costs and to free us and our clients from
"watching the clock" whenever possible. We believe our clients are better
served, for example, if they know in advance that every Reaffirmation Agreement will cost
the same per loan irrespective of the number of phone calls, faxes, or e-mails it takes to
get it documented and filed. The same would be true for many other types of repetitive or
transactional work.
Thus our Task Based charges will include all research,
communication and correspondence needed to prepare, review and transmit or file the
initial documents or pleadings. Out of pocket expenses are extra as are fees for court
appearances, research, and other work in responding to objections or other contested
matters in litigation.
Shaw & Martin
Hourly Charges
For contested matters and other work not covered by Task
Based Charges hourly rates apply. Current rates are $150 per hour for
attorneys. Matters requiring paralegal assistance are billed at $75 per hour. All time is
charged in minimum increments of .2 hours including letters and phone calls. Travel time
is regarded as a shared responsibility, and so we only bill for half of any travel time
required for court appearances, depositions and the like.
Expenses
We use a "pass through" rather than a
"profit center" approach to the billing of client expenses where possible. Data
base charges for electronic research are billed at actual cost as are all costs advanced
for filing, service, recording, transcription and related items. Postage is billed at
cost; mileage at the IRS allowed rate; photocopies and faxes at .15 per page and materials
printed from electronic sources are billed at .01 per line. |