What does it mean when a lawyer asks for a retainer fee?
2006-12-12 13:21:39 · 14 answers · asked by rlwsobrn99 1 in Politics & Government ➔ Law & Ethics
That's the fee a lawyer charges just for you to have his/her services. To "retain" him/her.
2006-12-12 13:22:39 · answer #1 · answered by Rebecca 5 · 0⤊ 0⤋
Retain A Lawyer
2016-11-15 00:46:56 · answer #2 · answered by geddings 4 · 0⤊ 0⤋
This Site Might Help You.
RE:
What is a retaining fee for a lawyer?
What does it mean when a lawyer asks for a retainer fee?
2015-08-13 08:16:23 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It depends on the skill/experience/reputation of the lawyer.
A retainer is "up front" money paid to "retain" the attorney's services.
A young lawyer just starting out may be willing to take a smaller retainer than an old shark.
With certain kinds of cases, like product liability, car accidents, injured workers and such, the attorney may accept the case on contingency. This means he will not charge you up front, but will take a large percentage of whatever money he recovers for you.
2006-12-12 13:29:28 · answer #4 · answered by chocolahoma 7 · 0⤊ 0⤋
When you pay a lawyer a retainer and they accept it, it means that they agree to work in your interests, usually towards a specific outcome and sometimes for a specific period. It also means that they cannot work against your interests or represent anyone who is in competition to or opposing your interests during the term of such agreement. Always get any retainer-based agreement in writing before you hand over your hard earned cash.
2006-12-12 13:37:09 · answer #5 · answered by miketwemlow 3 · 0⤊ 0⤋
It's a certain amount of money that you put on deposit with the attorney. As they work on your case, they bill against the retainer. Some will then bill you outright when the retainer is used up, or some will request another deposit. If they do not use all of the retainer, they must return any un-used portion.
2006-12-12 13:24:43 · answer #6 · answered by st_mel 2 · 0⤊ 0⤋
It is a reserve of money, like a deposit, that the lawyer uses to obtain the results you want, usually a flat rate, from which he/she takes their salary, pays for the court fees, employee salaries, etc. Then when your case is done, you'll get a bill for the remaining costs. It's kind of an insurance that you won't pick their brains and then take your case elsewhere.
2006-12-12 13:24:09 · answer #7 · answered by Kodoku Josei 4 · 0⤊ 0⤋
It only costs $26 a month to retain my entire Law Firm! If you want to know how I get an entire Law Firm for less than $1.00 a day, contact me. I will explain how I get access to a TOP Quality Law Firm in my State and can be used Nationwide including Canada.
Take Care,
Jon
2006-12-12 14:10:39 · answer #8 · answered by Anonymous · 0⤊ 0⤋
An advance payment, or simply an advance, is the part of a contractually due sum that is paid in advance, while the balance will only follow after receipt on the counterpart in goods or services.
Basically, it's enough money upfront for the attorney to take and start on your case. Once he has used up the retainer money, you would have to pay more for him/her to continue their services.
2006-12-12 13:25:33 · answer #9 · answered by Govt45 3 · 0⤊ 0⤋
Usually, a retainer fee is to fund the lawyer so he can start on your case. There is a lot of research that goes on for cases and you must prove to the attorney you are serious enough to fund his/her research, so he/she can get on your case.
2006-12-12 13:24:01 · answer #10 · answered by Anonymous · 0⤊ 0⤋