To Flat Fee, or Not to Flat Fee? It depends…
One of the first things we get asked by clients is “what is this going to cost me?” Unfortunately, the best answer is “it depends”. I mean, how do you answer the questions “what is a new house going to cost me” or “how much to fix up my car”? Well, it depends on how much work will be involved and what type of material you use.
We understand that clients like the predictability of flat fee arrangements, and we try to have flat fees whenever we can. Some of the cases we typically handle and charge a flat fee are as follows:
- Estate Planning
- Transferring of real estate into a Trust
- Business formation
- Some business contracts
We can even do a hybrid of the flat fee work, where we charge a flat fee, but if the client requires additional work beyond what was discussed, then we can continue the work by charging the standard hourly rate. But before we can ever provide the client with a flat fee figure, we need to gather some details, so we know the scope of what we are working with. For example, are we building a two-bedroom ranch, or a ten-bedroom colonial with high end finishes? And we often do not charge for the initial estate planning meeting.
There are some cases however that are so unpredictable that we cannot provide a flat fee quote. In those circumstances we charge our standard hourly rates.
So feel free to give us a call and schedule an appointment so we can see how we can help.