When the case is ended or does the lawyer keep the retainer? If I want to keep the lawyer should I have the lawyer keep the retainer?
2007-09-07 12:31:01 · 4 answers · asked by CherryCheri 7 in Politics & Government ➔ Law & Ethics
What does your fee agreement say? Some attorneys say it is non-refundable. Others say it is a deposit, and they only draw from it as they bill from it, and if there is any left over after the case is done, they might refund it. It depends on what you agreed to in the beginning of the representation.
2007-09-07 12:45:01 · answer #1 · answered by Flatpaw 7 · 1⤊ 0⤋
A retainer fee is the fee which retains an attorney for legal counsel. With this fee, the attorney is certain of the seriousness of your intentions and can take your case to heart. This is the most traditional method of billing clients. Both unearned and earned retainer fees may be charged. The unearned type is a sum of money which the client provides to the attorney who places it in a trust. This money is drawn upon as the attorney works and billing hours are incurred. Then it becomes a cash advance retainer. An earned retainer is one which belongs to the attorney when the payment is made and funds become immediately available to the law firm for costs incurred. Earned retainers may be pure, case or retainers for general representation.
The pure retainer is one which is a sum of money which the client pays to the lawyer or law firm to be certain the attorney will be available to the client throughout the year and that the law office will not accept any clients with cases that are adversarial. A case retainer is a nonrefundable fee that a client pays to a law office as an inducement for legal work to be performed for the client. What this really means is that the client is offering additional money to entice the attorney to take the case. And a retainer for general representation is one which is paid in contemplation of everything, such as ongoing representation, except for the actual litigation which occurs.
2007-09-07 12:39:48 · answer #2 · answered by CarinaPapa 4 · 1⤊ 0⤋
The retainer is simply a deposit on the total bill.
If you give a $5000 retainer, and your total bill at the end of the case is $4500, he will return $500 to you. If your total bill is $6000, he'll send you a bill for the balance of $1000.
He shouldn't keep the retainer, he should send you a final invoice for the difference.
2007-09-07 12:43:50 · answer #3 · answered by Anonymous · 2⤊ 0⤋
Read your fee agreement to see what you can expect.
2007-09-07 13:47:16 · answer #4 · answered by http://www.wrightlawnv.com 4 · 0⤊ 0⤋