If you are a business person, it makes sense to have a lawyer on retainer. Retaining a business attorney from the very start can save valuable time, energy and money in order to help avoid litigation.
Retaining an attorney from the beginning can help you focus on your business and not on legal questions. A retained attorney can help avoid litigation by reviewing all your business contracts. Without the help of a skilled attorney, a business owner may not recognize any unfair or adverse provisions that may leave the business vulnerable to losses or liability, or even whether a location will help or hinder a business.
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In this case, the retainer agreement must set out exactly what work the lawyer will be responsible for. You will be responsible for all other steps in the court action. See the question below for more information on limited scope retainers. The lawyer might charge you a flat fee for their work or by the hour. If they charge you by the hour, the agreement must say what their hourly rate is. The agreement should also say what the costs are for the services of legal assistants or other employees of the lawyer who work on your file.
Last updated: February What is a retainer fee? Last updated: February What is a trust account? Last updated: February What is a statement of account? Last updated: February How do I find a lawyer? There are many ways to find a lawyer: Ask friends and family for recommendations. Call or email the Lawyer Referral Service. Run by the Law Society of Alberta, this service will provide you with the names and contact information for three lawyers that may be able to help with your legal issue. Each lawyer you contact should provide a free half-hour consultation.
You should spend this time talking to the lawyers to see if they are a good fit for your legal issue. The lawyers will not give you free legal advice during this time. Talk to service providers. Ask your intake worker, support worker, etc. Research online. A quick Google search may show lawyers in your area. Be sure to still talk to the lawyer to make sure they are a good fit before you retain them or send them money.
Online scammers will try to trick you! Last updated: February What is a conflict of interest? Last Reviewed: February How do I retain a lawyer? Last Reviewed: February What if I cannot afford a lawyer? Last Reviewed: February Is a retainer agreement necessary? Last Reviewed: February Why do I have to give my lawyer instructions? Last Reviewed: February What if I do not agree with my lawyer?
Last Reviewed: February Can I fire my lawyer? Can I change lawyers? Last Reviewed: February Can my lawyer fire me as a client or refuse to keep representing me? The Law Society of Alberta Code of Conduct says a lawyer can withdraw if: there is good cause for the lawyer to do so there has been a loss of confidence between you and the lawyer.
Does a lawyer have to charge a retainer fee? Last Reviewed: February How much is a retainer fee? Last Reviewed: February How does a lawyer use the retainer fee? Last Reviewed: February Will I only have to pay a retainer fee one time?
Last Reviewed: February How do I know how much money is left of my retainer fee? Last Reviewed: February Do I get my money back if the lawyer does not use the entire retainer fee? Last Reviewed: February What if I owe my lawyer money after the retainer fee is used up? Close Font Resize. Keyboard navigation. Readable Font.
Choose color black white green blue red orange yellow navi. Underline links. Highlight Links. Clear cookies. An experienced attorney might charge a higher hourly rate but do the work more quickly. Be sure to get a written estimate of hours before you sign an agreement. A retainer is a down payment on expenses and fees. A retainer is paid in advance, for legal services that will be rendered.
When you talk to an attorney about a retainer you may discuss one of three different types:. General retainers are fees for a specific period of time, not a specific project. You are basically paying the attorney to be available for discussions and questions about legal matters during this time. For example, you may want an employment attorney on retainer to help you deal with issues that come up with employees.
A retaining fee is a deposit or lump-sum you pay in advance. The attorney must by law deposit that money in a trust account to draw from as work is done. If there is money left in the trust account at the end of the project, you get that back. A special retainer i s a flat fee that you would pay for a specific case or project. Many states prohibit this type of retainer because it means you can't discharge the attorney until the end of the project.
As the attorney works on your case, they will keep track of every letter written, every document researched, and every 10 minutes spent on your case. All amounts for time and charges are taken from the retainer, and the attorney should give you an accounting of activities each month, including the amount left on the retainer. If the charges are more than the retainer amount, you'll most likely have to pay additional fees, depending on the agreement.
State ethics rules and state bar associations have rules of professional conduct, including rules for disputes and for making sure attorneys charge reasonable fees. Check with your state's bar association for more information. An attorney should give you a description of their fees, preferably in writing, and some states require that lawyers put their fees in writing before taking a case.
You should also see details of fees for services like copying documents, court filing fees, or research costs. One way to make sure that you have a complete understanding of the fees is to thoroughly review the retainer agreement with your attorney before you sign it.
There is no such thing as a "typical" retainer agreement, but some common features are included in most:. What happens if you don't pay?
This ensures that money is not used for personal purposes before the services are fully performed. The most common form of retainer fee applies to lawyers who, in most cases, require potential clients to provide an upfront retainer fee.
The lawyer then bills the client for the cost of any additional hours they invest on behalf of the client. If the client's case is resolved prior to reaching the five-hour limit, the lawyer refunds the remaining portion of the retainer to the client.
An unearned retainer fee refers to the initial payment of money that is held in a retainer account prior to any services being provided. Retainer fees are earned once services have been fully rendered. In the example above, the retainer is considered unearned until the court case is closed and finalized. These unearned fees do not belong to the person performing the tasks, in this case, the lawyer until work actually begins.
Any unearned retainer fees that are not used can be returned to the client. Earned retainer fees, on the other hand, refer to the portion of the retainer that the lawyer is entitled to after work begins. Earned retainer fees may be granted to the lawyer bit by bit, depending on the number of hours worked. Distribution of retainer fees can also be based on tasks or milestones.
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