The Vaughan Baio & Partners mission statement includes a goal to provide:
“… advisory services to our valued clients. Our clients deserve reliable advice to help them navigate their business challenges and achieve their goals.”
Essentially, this is the role of being, not just litigators of the law, but also counselors of the law.
An essential aspect of being counselors of the law requires being mindful of the fees and costs as appropriate per case. This process can be described as a determination of “Cost Effective Litigation” and is a significant factor in facilitating the initial decision of how much emphasis to put on litigation and/or the importance of a obtaining a reasonable settlement of a claim. Just as advising our clients as to the likelihood of successfully defending or prosecuting a claim is a valuable consideration in determining whether to litigate or settle, so also is an educated opinion as to the cost effectiveness of litigation. This initial decision to litigate or to settle a claim may change as the process discovery reveals new relevant information. However, the initial decision of whether it is cost effective to litigate or settle a claim is the starting point of any litigation strategy.
Of course, there are a good number of cases wherein aggressive and extensive litigation to prepare for trial is cost effective, whether the result is a trial or a reasonable settlement. However, there are also cases in which minimal litigation is the most cost effective. As stated, it is the goal of Vaughan Baio PA to inform our clients of their options.
The analysis of cost-effective litigation is a three-step process. First, the experienced attorney needs to determine the potential monetary value of the benefits or damages being litigated. In some cases, specifically in Workers Compensation cases, the litigated benefits may easily be determined to be as low as a $500.00 MRI or a definitive $2,000.00 worth of Temporary Disability benefits. Other cases may involve millions of dollars of potential damages.
Once the potential value of benefits or damages being litigated is calculated, the attorney must determine the potential costs of litigation. The determination includes three main elements. First the cost of discovery, which is obtaining potentially relevant documents or potential witnesses testimony. Then the cost of preparing for and attending a trial. Finally, the amount of the potential exposure for payment of attorney fees.
The experienced attorney can analyze the case and calculate an approximation of how much the cost of litigation will be. For example, the approximate cost to litigate a $500 MRI or $2,000.00 of Temporary Disability benefits may be in the range of $7,500.00 to $15,000.00.
The more complex a case is, the more likely it is that the case will be more expensive to litigate.
The final step to determine the cost effectiveness of litigation is to compare the amount of the benefit being litigated with the cost of litigation. If the cost of litigation is much greater than the value of the benefit or damages being litigated, as in the examples of the $500 MRI or the $2,000.00 of Temporary Disability benefits which could cost up to $15,000.00 to litigate, the recommendation to the client would likely be to consider settling the claim rather than litigate.
In the dynamic landscape of legal challenges, Vaughan Baio & Partners stands committed to providing insightful counsel and cost-effective solutions for our valued clients. Our mission extends beyond traditional litigation, embracing a role as counselors of the law, where strategic decision-making and thoughtful consideration of costs are paramount. As your trusted legal partner, we invite you to contact Vaughan Baio & Partners for any inquiries or assistance needed. Let us guide you through the intricacies of your legal matters, ensuring that your objectives are met efficiently and effectively. Your success is our priority.
