Indiana Contract to Employ Law Firm - Hourly Fee with Retainer
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FAQ
Finally, a retainer fee is sometimes considered a down payment on legal services that the client will need. This means the legal fees will be subtracted from the retainer until the retainer is used up. The lawyer would then bill you for any additional time spent on your case or ask you to pay an additional retainer.
Rule 1.9 - Duties to Former Clients (a) A lawyer who has formerly represented a client in a matter shall not thereafter represent another person in the same or a substantially related matter in which that person's interests are materially adverse to the interests of the former client unless the former client gives ...
The trust funds are not touched until it is time for you to be billed for the attorney's time and fees. This concept is like a savings account. The retainer remains very much ?your money? until it is used to pay for your attorney's time on the case.
Be flexible. Be prepared to negotiate the terms of the retainer agreement. If the client is resistant to agreeing to a retainer, try offering a lower fee in exchange for a longer contract term. Or, propose a trial period to start off the relationship.
The basic structure of retainer agreements is the same though: Agency agrees to provide a service(s) or a number of hours their client needs each month. In turn, the client agrees to the retainer payment that they'd pay in exchange for the agency reserving its time/service for them.
Cond. 6.1. A lawyer should render public interest legal service.
Under Rule 1.7 of the RPC, we are precluded from representing a client if the representation of that client involves a concurrent conflict of interest; that is, where representation of one client will be directly adverse to another client, or where there is a significant risk that representation of one or more clients ...
A retainer fee is the upfront cost of a service before the service has been performed. In other words, it's a form of advance payment often required by a consultant, lawyer or freelance professional. For example, a lawyer charges their client a retainer fee prior to the client using their services.