What is a legal retainer agreement?

When hiring a lawyer, a retainer agreement can sometimes be used. This involves payment of a "retainer fee," which is basically like a down payment paid from the client to the lawyer. The rest of the legal fees may be paid later on or after the case is completed.

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Contract to Employ Law Firm - Hourly Fee with Retainer

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Name: Contract to Employ Law Firm - Hourly Fee with Retainer
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.56 (483 reviews)

Category:

Contracts - Attorney

State:

Multi-State

Control #:

US-0991BG

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Instant download

Description Hourly Fee Sample

Agreements employing attorneys may be classified into two general categories, based on the type of fee charged by the attorney. The first category includes contingent fee agreements, or agreements under which the amount of fee payable to the attorney is contingent on the amount to be recovered, either by settlement or judgment. The other category consists of agreements in which the attorney's fee is payable whether or not there is any recovery on behalf of the client. This category includes retaining fee contracts and contracts for a fixed fee.

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Law Firm Retainer Other Form Names

Law Firm Retainer Agreement Law Firm Retainer Sample Law Hourly Law Hourly Fee Hourly Fee Agreement Law Retainer Law Retainer Agreement

Law Retainer Buy FAQ

When hiring a lawyer, a retainer agreement can sometimes be used. This involves payment of a "retainer fee," which is basically like a down payment paid from the client to the lawyer. The rest of the legal fees may be paid later on or after the case is completed.

What is a typical retainer fee attorney? Some lawyers charge retainer fees of $1000, while others charge $5000+. Depending on the lawyer and the complexity of your case, you can usually expect to pay a retainer fee of between $3000 and $5000.

The retainer is placed in the attorney's trust account and then used to pay for legal fees earned by the attorney and expenses related to the client's matter.The retainer still belongs to the client until it is earned by the attorney or used for legitimate expenses, and must be returned if unused.

A fee that the client pays upfront to an attorney before the attorney has begun work for the client.(2) Also termed a retaining fee, a deposit or lump sum fee which the client pays in advance. The attorney must place that up-front fee in a trust account.

A good rule of thumb is to charge at least $3,000 per month for your retained clients because this way you'll only need 3 clients to sign retainer agreements in order to earn a six-figure income. Your goal should be to develop high-income skills so that each client is paying a $10,000 per month retainer fee.

As such, a retainer agreement is a formal document outlining the relationship between an attorney and client. It details the different obligations and expectations involved, which can include ethical work principles, retainer fees, modes of communication, and professional ground rules.

A retainer is a fee paid to a person (usually a lawyer) before any services have been performed.This document typically includes the type of work the attorney is doing for the client, all associated fees, and the general rights of both parties entering into the agreement.

2.1 The purpose of a Retainer Agreement is to set out the exact duties of the Member and the Client so that all parties to the Agreement have clear expectations regarding what will be provided, how the service will be provided, and at what cost.

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