Hiring a lawyer is important if you want to resolve a legal problem or issue. Unfortunately, hiring an attorney can be an expensive experience, especially if you have to pay a retainer fee. A retainer fee is in essence of a “down payment” on future anticipated legal fees. It gives comfort to the attorney that you will be able to afford his or her fees.
Experience of Your Lawyer
Choose your lawyer carefully. Ask around for recommendations and take extra care to hire a lawyer who specializes in your area of interest. The attorney you plan to retain should have a proven history of success. Civil cases and criminal cases are the most popular areas where attorneys work on retainers. Before paying anything ask for references from past clients.
Attorney-Client Engagement Letter
It is important before you hire your intended attorney you understand and agree with the engagement letter. Take care, before the lawyer proceeds with your case, that you are sure what fees you will be expected to cover. This should be completed before paying your retainer. Issues to address in your agreement include who pays fees for copying and filing, what the hourly rate will be, and how you end your relationship if you are unsatisfied with your attorney’s work. This will protect you and your retainer fee.
Payment of Retainer
Your retainer fee will normally be paid in to a special trust account. Your attorney should not be able to touch this money until they begin billing you. Each time you receive a bill, they will be able to withdraw on the retainer. If the funds in your trust account run out you may need to add more to keep your attorney’s services. The amount you pay as a retainer may vary; some attorney’s expect roughly half the total cost of their work. Others will start your case for less.