What are typical Lawyer fee arrangements?(2)

2009-11-02 16:36 from: LA auther: LA read:
Flat Fees Where a legal matter is simple and well defined, lawyers typically charge a flat fee. Examples of flat fee matters include wills, uncontested divorces and simple bankruptcy filings. If an at

Flat Fees

Where a legal matter is simple and well defined, lawyers typically charge a flat fee. Examples of flat fee matters include wills, uncontested divorces and simple bankruptcy filings. If an attorney suggests or has advertised a flat fee, be sure you understand exactly what that fee will and will not cover. The flat fee might not include expenses such as filing fees.

Retainer Fee

A retainer fee is typically, but not always, an advance payment on the hourly rate for a specific case. The lawyer puts the retainer in a special trust account and deducts from that account the cost of services as they accrue. During the course of legal representation, clients should review periodic billing statements reflecting amounts deducted from the retainer. Most retainers are non-refundable unless labeled "unreasonable" by a court. If you decide to drop a case that your lawyer has worked on before the retainer has been exhausted, you may forfeit the remainder. 

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