We know the sound advice that financial gurus recommend a 6-month savings of living expenses. We also know how difficult it is to do that.
But, today’s advice is about a different type of emergency fund. I suggest you have a cash emergency fund. Have enough money that you can get the help you need in the event of a family law emergency.
It is not uncommon for potential clients to have no readily accessible monies or extremely limited access to any monies. This makes it very difficult to navigate in the world that we live in. Also, when monies are in a joint account the joint owner may take any or all of those monies at any time and may also see if you did the same.
Have an emergency fund of several thousand dollars handy. Keep it somewhere safe and even if you never need it, you may have a family member or friend that will.
Matthew Thompson is a family law attorney in Mississippi and wishes you a Happy Groundhog Day!
(601) 850-8000 Matthew@BowTieLawyer.ms Thompson Law Firm, pllc
Seldom in Court does everything go in one party’s favor, but there are times where the party-in-the-wrong get’s STUNG by the Court.
How do you know if you got Stung in Court? Oh, you know.
- You may have been dressed down by the Judge.
- He may have stated that your conduct was petty or silly.
- A finding that your lawsuit was frivolous.
- Perhaps your claim was dismissed in its entirety.
- When the other side is preparing the Order and it was not an “Agreed” judgment, that too can be a sign of a win or loss.
- If you were held in contempt.
But there is also another sign of getting Stung. Are you paying your opponent’s attorneys fees?
If you’re paying the other party’s Attorneys Fees, you got Stung!
Matthew Thompson is a Divorce Attorney in Mississippi and warns clients to not get Stung!
Follow the blog: BowTieLawyer Visit the website: Thompson Law Firm
You may also contact Matthew with your family law case, question or concern at (601) 850-8000 or Matthew@bowtielawyer.ms.
Lawyers and their fees, the bane of the client’s existence.
Lawyers bill in several ways, most commonly with retainers and hourly billing. A retainer is unearned money that is placed in the lawyer’s Trust Account. As the lawyer works on your case, talks to you, meets with you, emails, texts, or thinks about you, the lawyer charges you. As your charged the money is pulled from the Trust Account into the lawyer’s Operating Account. When the retainer gets low the lawyer sends a nice letter, called a “Replenish Retainer” letter. It says send more money. The client then calls and asks “how much is this going to cost me?” The response is ALWAYS the same, “It depends.”
Another way to bill is Value Pricing, or fixed fee pricing. This is when there is a pre-negotiated or agreed upon price on the front end of the case. The client and lawyer agree to the fee, the timing and circumstances under which it is due. Here the client knows how much it is going to cost them. In my experience most lawyers do not like this method because “high fees” scare clients away and some lawyers are not comfortable quoting fixed fees because they may limit what they can charge.
There are pros and cons to each method. The hourly billing method is great if the matter settles quickly, but persons in the position needing lawyers are rarely in the settle-easy category. The fixed fee method allows you to plan, budget and make a fully informed decision.
Whatever method your lawyer uses, make sure you understand it. Make sure you appreciate the full cost and expense you are facing.
Thompson Law Firm uses the Value Pricing and fixed fee approach to handling your legal matter.
Matthew Thompson is a Divorce and Domestic Relations Attorney in the Magnolia State. Follow the blog:#BowTieLawyer Visit the website: #Thompson Law Firm You may also contact Matthew with your family law matter or question at (601) 850-8000 or Matthew@bowtielawyer.ms