The Wise Investment: How Hiring an Attorney on the Front End Can Save you Money on the Back End

Let’s be real… lawyers are expensive.  They also have a bad rap for churning or padding bills (something that in all reality is easy to do when billing, literally, by the minute).  I assure you, of course, that I do neither of these things.  However, there are plenty of bad apples spoiling the bunch, making all attorneys susceptible to negative judgments about our billing practices.

I digress. Regardless of an attorney's individual hourly rate, and even if implementing honorable billing practices, legal fees are costly. But do you know what costs more than hiring an attorney to mitigate risk? Hiring an attorney to fix a problem because you failed to dot your i's and cross your t's in the first place.

Legal matters are an inevitable part of life, and whether you're starting a business, dealing with a dispute, or entering into a contract, having the right legal guidance is crucial. While many individuals may view hiring an attorney as an unnecessary expense - perhaps one that can be put off or even avoided altogether - the truth is that investing in legal counsel on the front end can often save you a significant amount of money in the long run. In this blog post, we'll explore the various ways in which hiring an attorney early in the process can be a wise financial decision. [And for goodness sake, RocketLawyer, LegalZoom, etc. are NOT the answer (because contrary to the popular saying, not all of the best things in life are free.]

1. Preventing Costly Mistakes:

One of the primary reasons to hire an attorney on the front end is to avoid costly mistakes. Legal matters can be complex, and without proper guidance, you may unintentionally make decisions that have long-term financial repercussions. Attorneys, like me, bring a wealth of knowledge and experience to the table, helping you navigate legal complexities and ensuring that your actions are in your best interest.

My clients often hear me preach about the evils of a "handshake deal." I vehemently disagree with whoever came up with the expression "the devil is in the details." The devil is actually in the handshake deal. Details are great. ALWAYS have a contract. ALWAYS - or at least almost always - have an attorney help draft or review said contract. There is no regret like the regret you will feel when a legal issue arises out of a deal that is memorialized in a crappy contract (or even worse, no written contract at all).

2. Strategic Planning for Business:

For entrepreneurs and business owners, hiring an attorney early in the business development phase is essential. Attorneys can provide invaluable insights into legal structures, contracts, and compliance issues. By addressing potential legal challenges from the outset, you can avoid expensive litigation down the road. Aly Halpern Law specializes in business law and can guide you through the process of setting up a solid legal foundation for your enterprise.

Do you plan to hire independent contractors or employees to work for your business? Do you have written agreements in place for your employees/contractors? Do you have an employee handbook? If so, are your policies legally sound and up-to-date? Should you have your employees sign a non-compete agreement? Should you sign a non-compete? Have you left a job and need to know whether your next venture will be in violation of a previously executed non-compete? I could go on and on. The point is: ask questions early, put proper legal documentation in place, do not sign anything unless you understand it fully and completely (and even still, in most cases you should probably have an attorney review it), and always err on the side of seeking legal guidance from a qualified attorney. Consider legal fees as part of your business start-up costs (painful at the time but invaluable upside in that they may help prevent sh*t from hitting the fan later).

3. Negotiation and Mediation:

Legal disputes are often resolved through negotiation or mediation before escalating to a courtroom battle [coming soon: a blog post dedicated specifically to the use of demand letters as a powerful, cost-efficient and often effective means of early resolution]. Attorneys are skilled negotiators and having one by your side can result in more favorable outcomes. Not to toot my own horn, but I excel in dispute resolution, working to find amicable solutions that can save my clients both time and money compared to a protracted legal battle. A pre-litigation resolution/settlement is always the goal. You want to see some daunting legal bills? Get the court involved.

4. Comprehensive Legal Advice:

Rather than seeking legal advice only when problems arise, hiring an attorney on the front end allows you to benefit from comprehensive legal guidance throughout various situations. Aly Halpern Law offers a range of services, ensuring that clients have access to advice and support for a spectrum of legal matters.

5. Risk Mitigation:

Understanding and mitigating risks is a fundamental aspect of legal strategy. Attorneys help you identify potential risks associated with your decisions and provide guidance on how to minimize them. This proactive approach can prevent costly legal challenges and safeguard your financial interests. I think I have already sufficiently beaten this concept into the ground.

Conclusion:

In the world of law, an ounce of prevention is truly worth a pound of cure. Hiring an attorney on the front end is an investment in your future, protecting you and/or your business from costly mistakes, providing strategic planning, and offering comprehensive legal advice. Aly Halpern Law stands as an example of a law firm dedicated to helping clients navigate the complexities of the legal system and save money in the process. Remember, when it comes to legal matters, being proactive with the right legal guidance can be the key to financial peace of mind.