Michael J. Reed, Esq.

Phone: 610-647-6777
Fax:    610-465-9898
mike@mjreedlaw.com

Q.  Isn't billing by time spent a terrible idea for the client because it discourages efficiency and rewards inexperience?

A.  Yes.   

Q.  What is a standard fair hourly rate?

A. There is none.  A fair rate has to do with risk/reward and cost/benefit analysis.   That is why the rate for a third offense DUI is higher than the rate for a first offense DUI.  That is why there is no rational basis for the fee to administer a million dollar estate to be higher than the fee to administer an estate one tenth the size.  

The fair rate is the one that you and the lawyer agree is fair. It is a running discussion except for certain routine finite and bounded tasks.  The hourly rate is most often given as a value and not a cost.    For example: a lawyer who solves your million dollar problem in three hours will not believe $1,000 is a fair fee.  The same three hours making a losing and non productive preliminary objection to a simple Complaint is not worth a nickel.