A retainer for a lawyer is an advance payment made to secure the lawyer's services, often covering initial fees and ensuring the lawyer's availability for your legal needs. It generally acts as a deposit, with funds drawn down as the lawyer performs work. Before you hire an attorney for y...
What Are Unearned and Earned Retainer Fees? Is It Possible to Recover Attorney’s Fees? Are There Fee Agreements Without Retainer Fees? Do I Need a Lawyer for Help With Retainer Fees? What Is a Fee Agreement? As mentioned above, an attorney fee agreement is a written contract that includes...
With a retainer fee, the attorney charges a set amount of money up front, which is typically a deposit, and then bills the client for services rendered based on an hourly fee. Typically, once the retainer is used, an hourly rate will apply. If an attorney charges a contingency fee, it...
In a standardretainer feestructure, a client pays a lump sum ahead of time (say,$8,500). The attorney then bills against that amount as they work on the case. Once that retainer has been depleted (used entirely), the client is billed for any additional work at the attorney’s hourly ...
On this page, you'll find the legal definition and meaning of Of Counsel, written in plain English, along with examples of how it is used. What is Of Counsel? It refers to the attorney or lawyer who are attached to the law firm on case-to-case basis or part time basis and who is...
Employ by payment of a retainer. They retained a lawyer to handle the case. 1 Sustain Strengthen or support physically or mentally This thought had sustained him throughout the years Retain To keep possession of; continue to have The family sold the house but retained the land. Sustain Undergo...
3 A lawyer may also charge a retainer fee, essentially a downpayment, that they pull money from until it’s used up, and then they charge an hourly rate. Some lawyers choose a different form of payment for their services, such as a flat fee or a contingency fee — which is a ...
To best understand how an IOLTA is used on a practical level, let’s run through a basic example. After signing a retainer agreement, Client A pays you a $7,000 retainer fee to secure your services for an upcoming lawsuit. At this point, the money for the retainer is put into trust ...
Real estate law is a matter for state and local jurisdictions. Real Estate Attorneys: An Overview A real estate attorney is a lawyer who is licensed to practice real estate law. As such, they possess extensive knowledge of different real estate issues and legalities. As your representative, the...
Fees charged by banks can be transactional (related to a specific service requested) or not. In some cases, as when an account is overdrawn or a credit card payment is made late, a fee is charged as a penalty. In other cases, such as when a bank charges a monthly fee to checking a...