How are legal fees determined?
Legal fees are determined based on each individual’s specific needs. In most instances, clients are quoted a specific fee for the job to be performed. In addition to the legal fees, disbursements, filing fees and taxes are also charged, where applicable. Clients are also provided with a schedule of when each payment is required.
HOW ARE FEES HANDLED BY MARK & COMPANY LAW CORPORATION WHEN THEY ARE PAID BY A CLIENT IN ADVANCE OF LEGAL WORK?
When a client pays fees to Mark & Company, they are placed in a trust account. The trust account is located in Canada and is overseen by the Law Society of British Columbia. After work on the file is performed and billed, fees are then transferred from the trust account to Mark & Company’s general account for payment of services.
The trust account of a Canadian lawyer is an important feature in the protection of the fees you pay for the services provided. Mark & Company Law Corporation maintains a trust account, managed by its senior counsel, Linda Mark. This trust account is regulated and audited by the Law Society of British Columbia. When you pay legal fees for services not yet performed, the funds are placed in a pooled trust account. As legal services are performed, Mark & Company will issue an invoice to you, following which the funds will be transferred to the general account of Mark & Company. A ledger is created for each client for whom trust funds are held, which records all transactions related to your account.