This “true retainer” ensures the lawyer's immediate availability for that month. In this situation, non-refundable legal fees are permitted so long as disclosed and agreed to in writing by the client. Otherwise, in our example, Bill cannot accept a non-refundable retainer to defend Joe's breach of contract case.Jan 26, 2021
Retainer fees do not guarantee an outcome or final product. Portions of retainer fees can be refunded if services end up costing less than originally planned.
In a definitive sense, a retainer is a fee that is paid in advance in order to hold services (ie. a wedding or event date). While a deposit may also reserve a date, it is returned when the services have been completed. A retainer is by default non-refundable and is not returned.Jun 6, 2019
Non-trust retainers or Credits are used when a firm receives funds into their operating account that have not been earned or billed for yet. In MyCase, these funds can be deposited as Credits, which can be used for record keeping or to apply to future invoices.Mar 17, 2021