In a recent report, it was revealed the number one request clients had of their legal service representation was alternative fee arrangements. That could mean a flat fee for a particular service, or a capped hourly agreed-upon arrangement.
The important part of fee arrangements if flexibility. Flexibility shows clients you care enough to help them out in tough economic times. This also keeps clients in your Rolodex for when times get better. Don't lose your clients just because you don't want to deal with accounting headaches and some short term profits. In the end, both you and your client will come out ahead.