A Brief Explanation of Actuarial-Economic Reports and Testimony
The determination of lost earning capacity is often presented by actuarial-economic experts in the form of written reports, and also by direct presentation in the courtroom. Reports and testimony are requested both by attorneys representing plaintiffs, as well as by those representing defendants. An important aspect of the expert's role in the courtroom is to explain the concepts of projection and present values to the jury in language which can be readily understood and applied by them in their deliberations.
The fees charged by actuarial-economic consultants and economic experts for such reports and court appearances are generally charged on an hourly basis at a level consistent with the other professional services provided by the consultant. Our fees are independent of the outcome of the case.
The current rate charged by this office for such services is based upon $350 per hour. A formal and complete report which is often utilized for settlement purposes and pre-trial negotiations will typically generate a fee of $1,750 to $2,450. The testimony retainer/minimum charge for a court appearance, deposition or hearing starts at $1,400. Cancellation by the attorney within 24 hours of scheduled testimony will result in a minimum charge of $350. Charges will also be made for travel expenses.
A non-refundable advance retainer is payable at the time that the data concerning the case is sent to this office. The retainer fee is a minimum of $1,500. Our statement for the balance due will be submitted with our report and is payable upon receipt. All balances must be paid in full prior to courtroom testimony. Payment for services rendered is NOT contingent upon the outcome of the case.
Print PDF and sign as an indication of your understanding of the previous paragraphs, and your willingness to abide by the fee schedule and payment requirements. You can print this out and Fax form to (610) 642-4787
Or mail to:
Wynnewood House, Suite 109
300 East Lancaster Avenue
Wynnewood , PA 19096