FeeCalc LS
is designed for law firms who have prevailed in litigation where the court
must approve the legal fees incurred.
FeeCalc LS enables you to quickly enter the fees
for each attorney, secretary and paralegal that worked on the case,
as well as all applicable office expenses. As quickly as they
are entered, the present value of these fees is automatically calculated,
taking into account the interest earned on the fees from the beginning
of work on the case.
The software generates an easy-to-understand report
for the courts that details the expenses of each employee, the hourly
rates they charged during each time period, and a summary of the
costs for the office and all employees. The report can also
include an explanation page that lists the legal precedents for
such charges.
The user can choose the frequency of billing (monthly,
quarterly or annually), and whether or not to use compound or simple
interest. Interest rate information is included in the program
for bank Prime Rate, and two different Treasury Bond rates.
A factor can be added to each of these interest rates allowing the
user to use "Prime Rate + 2%" or any other amount as the interest
added to billings. The user can also set a constant interest
rate to be charged over the entire period, if desired.
In addition, the user can choose to have the interest
rates as fixed or floating. Using a floating rate means that
the interest charged on all billings each period is the interest
rate current for the period (the savings account approach).
Using a fixed rate means the rate in effect in the period in which
a billing was done is charged on that period's billing for the entire
period of the trial (the bond approach).
This helpful, handy program makes short work of
complicated fee analysis for all law firms who have ever been in
the position of having to present their billing information to a
court within 14 days after the end of a trial.
For Additional Information See: Court
Awarded Attorney's Fees, by Russell E. Lovell II, ABA Books
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