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Kansas
Contract to Employ Law Firm - Hourly Fee - with Retainer

Kansas Contract to Employ Law Firm - Hourly Fee - with Retainer

Category:

Employment - Agreements - Law Firms

State:

Multi-State

Control #:

US-01959BG

Format:

Instant download

Description

Attorney's fees are assessed in a number of ways, usually set by contract in advance of the representation, including by billable hours, flat fees, or contingent fees. Attorneys who voluntarily accept work on behalf of indigent clients often work pro bono. An upfront fee paid to a lawyer is called a retainer. A contingent fee is a percentage of the monetary judgment or settlement.

The range of fees charged by lawyers varies widely from one city to the next. Most large law firms in the United States bill between $200 and $500 per hour for their lawyers' time, though fees charged by smaller firms are much lower. The rate varies tremendously by location as well as the specific area of law practiced.

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FAQ

Being on retainer means that you're on-call for a specified number of hours each week or month. The client agrees to pay you for these hours, whether he gives you work or not. Usually, service providers offer clients a reduced hourly rate for the security offered by being on retainer.

Usually, though, any unused funds are returned to the client once all expenses have been billed and collected out of the retainer.

What is the hourly rate of a lawyer in Kansas? The average hourly rate for a lawyer in Kansas is between $121 and $354 per hour.

Summary: The attorney is free to negotiate terms in the retainer agreement that are most beneficial to the attorney, subject to the California Rules of Responsibility and the laws applicable to retainer agreements.

The benefit of successfully negotiating a retainer agreement for the freelancer is obvious: Guaranteed, predictable, and consistent income that they can count on. It's not just the freelancer who prefers being paid via a retainer fee. Many clients prefer retainers, too.

A retainer agreement is a long-term work-for-hire contract between a company and a client that retains ongoing services from you (as a consulting business) and provides you with a stable amount of payments.

Regardless of occupation, the retainer fee funds the initial expenses of the working relationship. For this reason, these types of fees usually remain in a separate account from the hourly wages of the consultant, freelancer, or lawyer.

Your goal should be to develop high income skills so that each client is paying a $10,000 per month retainer fee. Another option is to offer your clients different pricing tiers, where the retainer agreement starts at $3,000 per month, but can be as high as $10,000 per month depending on which tier your client chooses.

A retainer agreement is a contract wherein a client pays another professional in advance for work to be specified at a later point in time. In exchange, that professional agrees to make himself available to that client for a certain number of hours within a predetermined timeframe.

Attorneys typically charge an average of $100 to $300 an hour, while a consultant may charge $50 to $150. No matter your profession, though, it's good to find a reasonable rate that works with your experience level and your success rate in the industry.

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