Arcang: “ Lawyer rates also can vary pretty widely based on geographic location.”
Did you know that state Bar Associations set minimum fee schedules? Bar Associations have the powers of a government agency, so they can fine lawyers who don’t charge enough money.
Uh, that practice has been illegal for 50 years. It's price fixing which is against federal anti trust law.
Arcang: “Becoming a practicing attorney and maintaining a practice is a very expensive proposition.”
Lawyers make a lot of money because they have access to the courts, not because they know what they are doing.
Lawyers have access to the courts because they prove that they process a certain knowledge of the law. And if skill didn't come into it, then all lawyers would make around the same amount of money, but in reality the hourly rates are all over the place.
Yes, law school costs a lot of money. Why? Because law professors make a lot of money.
Honestly, law professors as a whole don't make a ton. It's stable work which is appealing, but most law professors make less per hour then if they were in private practice. The real reason law school is expensive is because there is a high demand for it.
Why do law professors make a lot of money? Because lawyers make a lot of money. It all goes in a circle.
Many lawyers do go into the field because they can make money, but it's simple supply and demand. The same thing is true for other specialized fields with high demand, like medicine.
Arcang: “Many lawyers work on contingency, and legal aid is a thing.”
Contingency only applies to certain situations like accidents and injuries.
Contingency applies only in civil cases, but the majority of work done by lawyers is civil.
Legal aid only applies to certain situations.
Agreed, but you made it seem like it was impossible to get legal aid if you didn't have a lot of money and that's not true.
Some lawyers advertise that they give free advice. In my experience free legal advice is worthless.
I’ve never been through a divorce, but everyone tells me that it is maddeningly expensive due to legal fees. A Methodist minister described divorce to me: “You both move into apartments and the lawyer gets the house.”
A divorce is always going to be expensive because litigation costs money. Even if no lawyers are involved it's still pricy. That's true of all litigation.
My experience suggests that lawyers are an immense drag on the economy. Years ago, I was an employee of a small company that started with over three million dollars in capital. They wound up going under and legal fees are certainly one of the reasons. First there is the General Counsel. Among other things, they draw up incorporation papers.
General counsels have many duties, but just to use your example, the business couldn't exist without being incorporated, which is a very specific process that is different in every state. There are also things like compliance work, contracts, labor issues etc...
Then there are Securities Attorneys. The company sold stock on NASDAQ, which involves huge fees to Securities Attorneys.
Yes, because they have to make sure that securities laws are being followed. Violating them has large consequences for companies.
Then there are Patent Attorneys.
Yes, who navigate patent law and ensure that the IP of the company can be protected and not stolen.
When the company ran into trouble, there are Bankruptcy Attorneys. Much of the company’s money went to pay attorneys, and that is without ever being involved in a lawsuit.
Technically speaking bankruptcy is a lawsuit, but I get what you are saying. But you seem to think lawyers are only important when it comes to litigating in court, but having good lawyers prevents that from even happening, which is to everybody's benefit. Most lawyers don't even litigate, but they prevent litigation from becoming necessary by ensuring that the law is not violated.