Clients generally like flat fee agreements, where they pay a specific fee for a specific service. But be careful. The Big Bad Wolf doesn’t always like these agreements. The Big Bad Wolf, of course, is disciplinary counsel, who have recently focused significant energy on scrutinizing these agreements to be certain that the documents comply with the Rules of Professional Conduct. For some attorneys, however, whose agreements do not overcome this scrutiny, the result can be discipline. Most attorneys want to do the right thing, however, and avoid the Big Bad Wolf.
Allow me to explain.