Thursday, March 20, 2008

Is a retainer/advance against fee for a lawyer what he needs to be paid up front? -

I am trying to decode a letter of engagement from said lawyer.

Yes, that needs to be paid upfront before the attorney will perform any work on your behalf. And if its a retainer (as opposed to an advanced fee), then you will need to keep that retainer amount current throughout the entire case. In other words, if the retainer is $5,000, then you need to keep $5,000 in your attorneys hands regardless of whatever other bills for fees you get along the way. The retainer acts as a security deposit and will get returned to you at the end of the representation so long as you have paid your bill in full.

While most of the answers above this are pretty accurate in general, please know that if you re in the state of Washington, a retainer is now classified as a non refundable fee paid to the attorney that will keep him retained to do future work for you but it does not have to go into a trust account. In fact it cannot go into a trust account. If the attorney does any work for you he may bill you on top of the retainer. Advance fees are now the equivalent of what we used to call retainers and must be placed into a trust account. Geez, who thinks this stuff up huh?

A retainer is nothing more than a deposit of your money in the attorneys trust account from which he/she will deduct expense related to your case and fees after they have provided you with the bill. Anything remaning after your case is concluded must be returned to you, and if he goes through that amount, he may ask for more

It s not only payment to the attorney, but also court costs, subpoenas, or any other added expense in your representation.

Yes, a retainer fee is just that, to retain him.

Yes its the amount that will hold your spot and guarantee him for you.

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