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A retainer fee basically "retains" the lawyer's services. You should discuss exactly how your prospective attorney handles the retainer fee before giving them any money, because there are a couple of different ways of handling retainer fees.
It may be a fee the lawyer charges in order to be available (which may mean that they have to turn down other clients; since doing so represents a loss of business for them, it's reasonable for them to expect to be compensated for this), or it may be a kind of "down payment" on future services. In either case, it's not an "all-you-can-sue" plan, you'll still have to pay for the actual services rendered.
Wiki User
∙ 11y ago
Wiki User
∙ 10y agoIt is essentially a deposit against services rendered. The attorney will provide a detailed billing statement, normally monthly.
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Is there any legal costs insurance for victims?
I don't believe there is legal insurance available, but that may simply be called a "retainer fee" which means the lawyers are available when you need them.
How can I find a good product liability lawyer that doesn't require a retainer?
The best thing to do is to look in your local newspaper. It will have a listing for all the lawyers in your neighborhood and it will show on the ad if they have a retainer fee or not.
What is the journal entry to record a retainer fee?
Debit retainer fee expenseCredit cash / bank
What is an annual retainer fee?
An annual retainer fee is a flat fee that a client pays in advance to retain the services of a professional, such as a lawyer or consultant, for a specified period of time. This fee ensures priority service and availability throughout the year.
The fee is paid to an attorney to engage their services is called?
a retainer fee
What is the typical lawyers fee on a pro bono case in the state of Oklahoma?
pro bono means free
What if your broker is requiring a retainer fee?
Lose them............fast.
Is audit fee an administrative expense?
Yes because audit means protecting the business (lawyers) if a customer wants to sue the business
What lawyers take no win no fee cases?
I am not sure how many no win no fee lawyers there are but I think you should see if how many there are by country. For example there are many no win no fee solicitors in the UK and other European countries.
What is the usual fee for retaining a personal injury attorney?
Personal injury attorneys typically work on a contingency fee basis, which means they only get paid if they win your case. The standard contingency fee ranges from 33-40% of your settlement amount, but this can vary depending on the complexity of the case and the attorney's experience. It's important to discuss fee arrangements with the attorney before hiring them.
Why do lawyers charge a retainer?
Lawyers and other service professionals usually charge retainers as a form of protecting themselves against clients who might end up not paying. So by asking for a retainer, a part of the work is covered, if the client does not pay the rest for some reason, at least it was not a total waste of time for the lawyer.
How do you hire a police brutality lawyer?
If you are interested in finding a lawyer in your area, do research either online or from a phone book. Once you have determined a variety of lawyers in your area, you can schedule a meeting with the lawyers and discuss your case further with them. It is also a good idea to get information about the retainer fee, if there is one required, since differnt lawyers often charge different fees. The best way to figure out which lawyer is right for you is to interview the lawyer and present your case to them and get their personal oppinion.
