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Billing increments
Hourly billing is ideal if the Firm / Attorney wants to retain Paralegal Services on a contracted basis. The standard billing increments at Legitimate Solutions are:
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1/10th of an hour or 6 minutes – Tasks are billed in 6-minute increments. If a task takes less time than this, it is rounded up to 6 minutes for billing purposes.
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1/6th of an hour or 10 minutes – Tasks are billed in 10-minute increments. If a task takes less than 10 minutes, it is rounded up to 10 minutes for billing purposes.
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1/4th of an hour or 15 minutes – Tasks are billed in 15-minute increments. If a task takes less than 15 minutes, it is rounded up to 15 minutes for billing services.
Fixed fee billing
Some Attorneys prefer the convenience of fixed fee billing. This type of arrangement sets a specific price for each service. For example, instead of billing at $55.00 an hour to handle a bankruptcy, the Paralegal may charge $399.00 to complete the entire matter, from origination to discharge.
It’s important for you to understand this type of billing arrangement because it’s becoming increasingly popular within the legal profession. Attorney's tend to prefer a fixed fee billing method because it gives them upfront notice of the cost without the worry of unexpected expenses on the backend.