Calculate and estimate and budget litigation costs and attorneys fees

LITIGATION COST ESTIMATOR The Budget Wizard™

Faced with a lawsuit to file or defend, one of the first questions any party should, and indeed must, ask is "How much will it cost?" Lets face it, unless you are utilizing your attorney on a pro active basis that will prevent legal bills down the road, the costs of litigation do nothing more than impact the bottom line. Smart businessmen know that it pays off to get at least two opinions and cost estimates in any litigation, just like surgery. Litigation costs must be contained, and every tactic must be made with sensible consideration of the costs involved. Understanding the methodology behind litigation costs gives you the ability to carefully calculate various strategies, risks, and benefits with the interaction of your attorney.

Use this estimator to compare hypothetical costs in your case THE BUDGET WIZARD™ WILL COMPLETE THIS REPORT

This task will take less than five minutes and may provide you with invaluable economic guidance in approaching litigation.

Through the Wizard™ below, which will walk you through step by step, you will be asked to provide this information:

A. What is the hourly rate of your attorney?

B. How many witnesses do you anticipate?

C. Do you need an expert?

D. Is the question of law precedented or new terain?

E. Is the amount in controversy greater than $75,000?

F. Is there a counterclaim

G. Is the basis for the suit a contract?

H. Is the basis for the suit other than a contract?

I. Are there issues over jurisdiction or venue

J. And a few others to pin down the scope of activity

Click below to launch the wizard:

CAUTION: Litigation costs vary and are a function of many variables, many of which are unforeseeable, including the complexity of the case, cooperation of the counsel and witnesses, complexity of legal issues, location and condition of evidence, contentiousness of the adversary and many other issues. Still, creating a financial plan is a valuable tool for litigation because it provides a valuable point of reference for the client.

Expense Category	Breen Law	Firm 2	Difference
Due Diligence	$	$	$
Complaint Prep	$	$	$
Filing Fees	350	350	0
Answer/Counterclaim	$	$	$
Rule 26 report	$	$	$
Discovery (Offensive) Interrogatories, Document Request, Admissions)	$	$	$
Discovery (defensive)	$	$	$
Depositions (in state)	$	$	$
Depositions (out of state)	$	$	$
Court Reporter	$	$	$
Motion for SJ	$	$	$
Expert Witness/Fee	$	$	$
Witness Preparation	$	$	$
Pre Trial Statement	$	$	$
Pre Trial	$	$	$
Mediation	$	$	$
TOTAL COSTS	$	$	$

WHAT CAN I DO TO HELP REDUCE ANTICIPATED LITIGATION COSTS?

There are lots of things you can do. First, do the leg work for your attorney. Assemble documents, sort them, and present them in an efficient manner. Provide your attorney with succinct, chronological summaries of your own knowledge. Identify key witnesses and provide summaries of their proposed testimony. Dig for the negative evidence too, so your attorney is fully informed early on as to the strengths and weaknesses in the case. Although the general rule is that each party must pay for its own attorneys fees, discuss with your attorney the ability to raise a cause of action or defense that invokes a statutory right to attorneys fees. Finally, some clients benefit by seeking a "second opinion" on significant litigation.

WHAT CAN I DO TO PREVENT LITIGATION COSTS IN THE FUTURE?

With careful pre planning, there are lots of things you can do on a preventative basis, most typically with a carefully drafted contract that contains a number of pre emptive clauses, such as a venue selection clause, which can help to prevent a lawsuit in a distant forum; a fee shifting clause that may entitle you to reimbursement for attorneys fees and court costs; numerous conditions precedent clauses, providing for mandatory pre suit conduct; right to cure clause, creating a right to cure or resolve a default within a specified period of time. Many companies prefer mandatory arbitration or mediation rights, refering the matter to a trade association approved panel or the American Arbitration Association.