what is a retainer fee for a lawyer

1 year ago 36
Nature

A retainer fee for a lawyer is an upfront payment made by the client to secure the services of an attorney. It essentially "reserves" the time and expertise of a lawyer, making them accessible to the client for an agreed-upon time. The amount of the retainer fee can vary and may be a flat fee or an hourly rate. Retainer fees are not the total amount of legal fees that a client may expect in a case, but instead, it is a fee that must be paid to start representation. The actual fees incurred can be higher or lower than the retainer amount. Retainer fees can be distributed based on tasks or milestones, and earned retainer fees are the portion of the retainer that the lawyer is entitled to after work begins. Retainer fees provide a guarantee that the attorney will be compensated for their services, and the attorney can work on the case and subtract their time from the retainer fee. Retainer fees are typically requested at the beginning of legal representation, and an attorney may communicate that they do not agree to take the case until this fee has been paid in full.