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Home  Legal Retainer Services |
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LEGAL RETAINER SERVICE
A retainer is a fee paid to an attorney [Advocate] in advance, for services.
The client pays a fixed monthly fee to cover a certain level of service, based on an estimate of the amount of work to be done for the client each month. |
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A retainer might work like this
You would pay your attorney $200 a month for legal services during that month.
If you have a question or need a matter handled, it comes off the retainer amount.
If you don't use the full amount of the retainer, in most cases you would not get a refund or a credit toward the next month.
If you use more time than the retainer amount will cover, you will need to pay the additional fees. |
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Benefits of a Retainer Arrangement
A retainer arrangement benefits both the client and the attorney.
This is attractive to the client because they get a discount and have some idea what they're going to spend every month.
This is particularly helpful if a client is slow in paying.
The retainer arrangement is also beneficial for the client because it provides a budget for legal fees.
Also Known As: legal fees |
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Retainer arrangements can take different forms:
- In some cases, a retainer is a non-refundable fee paid for the privilege of retaining the lawyer, without regard to whether services are rendered. This type of arrangement is something you might find when someone retains a high profile lawyer.
- In certain instances, the retainer may translate into a fixed fee paid on a periodic basis (for example, monthly or annually) to represent a client on routine matters. As an example, a corporation may pay a monthly retainer to a lawyer to attend board meetings and to provide advice on day-to-day legal issues that come up.
- In other instances, a retainer may take on the form of a flat fee to represent a client on a specific matter, regardless of how much time or effort is involved in the representation. This type of arrangement is typical in criminal defense matters.
- Another type of retainer is one where money is paid as an advance against future fees and costs, which may or may not be refundable if not all of it is used.
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