what does it mean for an attorney to be retained

When Is It A Good Idea To Retain A Lawyer?

What are the terms of a retainer agreement?

How are retainers established?

What is a general retainer?

What is retainer fee?

Why do you need a retainer?

Do you have to pay for unused retainer?

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10 Things You Need to Know About Retaining an Attorney

Myth: The fact that an attorney has passed the state bar examination means that he is qualified to practice law. Truth: An attorney only becomes competent in a particular area as a result of years of practice and experience. For most legal fields, it takes at least 10-years of practice before the attorney becomes competent. Myth: The best attorneys are extremely busy.

What Does It Mean to Have a Lawyer on Retainer? - Laws101.com

If you’re thinking of hiring an attorney for your business, the first thing you’ll need to do is “retain” them. This is the term used to describe the process of creating an attorney-client relationship with that particular lawyer and involves paying a lawyer retainer fee in exchange for legal representation.

What Does it Mean to Have a Lawyer on Retainer? - FindLaw

When someone threatens to call “their” lawyer, it likely means that they have a lawyer "on retainer." To have a lawyer on retainer means that you – the client – pay a lawyer a small amount on a regular basis.

Why do lawyers use retainers?

In return, the lawyer performs some legal services whenever the client needs them. Retainers are most useful for business that need constant legal work, but do not have enough money to hire a lawyer full time. Also, individuals who are likely to need a lot of legal work might want to have a lawyer on retainer.

What is a retainer agreement?

When a lawyer is "retained," that means that someone has hired her, and the money paid to the attorney is known as the retainer. The agreement signed when someone hires an attorney is called the retainer agreement.

When Is It A Good Idea To Retain A Lawyer?

Anybody seeking legal representation should have at least some form of retainer agreement in writing with their lawyer. However, many situations benefit from detailed retainer agreements, including:

What are the terms of a retainer agreement?

Other terms of a retainer agreement may include: 1 Means for fee arbitration, in case of a dispute 2 Expectations for client cooperation and communication 3 Right for the attorney to withdraw 4 Right for the client to terminate 5 Whether any associates, paralegals or contract lawyers will be needed and their expenses 6 No guarantee of the result 7 Privacy policy of the lawyer and law firm, including action over property and files of the client after the case 8 Conflict checks

How are retainers established?

Retainers are established by entering into a retainer agreement — a formal document that details the obligations, terms and expectations of the attorney-client relationship, and may specify retainer fees, contact rules or methods, or basic expectations. Retainer agreements often vary in length and content depending on the terms of the retainer. However, there are essential parts of a retainer agreement which you can typically expect, regardless of jurisdiction or type of case.

What is a general retainer?

A general retainer contracts the attorney for a specific period instead of a specific project. During this time, the client can expect the lawyer to be available for discussion or questions about legal matters, or sometimes to guarantee priority attention. A retaining fee is a single deposit or lump sum fee the client pays in advance ...

What is retainer fee?

The retainer fee is the amount charged to the client. The agreement must show the basis of the fee in detail. When appropriate, specific examples can be written down. For example, this includes flat fees for certain cases or projects.

Why do you need a retainer?

Having a retainer agreement guarantees you availability and access to your ideal representation of choice. They can also be a useful tool for budgeting your legal expenses, allowing you to estimate short-term and long-term costs based on the duration and terms of the agreement.

Do you have to pay for unused retainer?

However, retainer agreements also carry the risk that you will pay for unused services. If you enter into a retainer agreement that makes a lawyer available to you for a couple of months, but then never use the lawyer’s services for the duration of the contract, you will still be obligated to pay any agreed-upon retaining fees. Be sure the retainer agreement you are considering adequately fits your need for legal services.