Legal Expenses
Legal expenses refer to the costs associated with hiring a lawyer or legal professional to assist with legal matters. These expenses can include fees for consultations, court appearances, document preparation, and other legal services. Individuals and businesses may incur legal expenses when dealing with issues such as contracts, disputes, or compliance with laws.
In some cases, legal expenses can be covered by insurance policies, such as legal expense insurance. This type of insurance helps individuals and businesses manage the financial burden of legal fees. Understanding and budgeting for legal expenses is important to ensure adequate financial planning when facing legal challenges.