Helpful. My father had me sign a retainer agreement in case they said my Aunt and the firm she's a partner with, was needed. She's also the family's Attorney but lolz I wasn't sure what it meant & I'm Criminal Justice Minor. Many family members are in law Enforcement and it's something that I was curious about because no money is definitely involved. So thanx. I was embarrassed to admit I didn't know...I should!
But then how does the attorney pay themselves if they use the full retainer to work on the case ??! Whats in it for them ? How do they get paid for their services on the file ? Thanks for your help Peter.
Hourly fees are subtracted from the retainer payment in typical hourly fee arrangements. So, if the retainer payment is $1,000 and the attorney bills out at $250 per hour, he/she will subtract the hours from the retainer. This should all be spelled out clearly in any Engagement Letter or another document when you hire a lawyer.
It depends on the attorney. Some attorneys bill you for everything including travel time. Others do not. However, it is typical for an attorney to bill for time spent in court waiting for a case to be called. The rationale is that the attorney is unable to work on another client's matter because they are covering your case. It is important to discuss billing with an attorney before you hire him or her. Make sure you know what they will be billing you for. Also, make sure to read the retainer/engagement letter. It will typically spell out what the attorney bills for.
I thought this was for teeth and I though you were a dentist 😂
Jakieee Cordero nope, I could never work on teeth! Lol
Helpful. My father had me sign a retainer agreement in case they said my Aunt and the firm she's a partner with, was needed. She's also the family's Attorney but lolz I wasn't sure what it meant & I'm Criminal Justice Minor. Many family members are in law Enforcement and it's something that I was curious about because no money is definitely involved. So thanx. I was embarrassed to admit I didn't know...I should!
Thanks Peter! Very helpful
What happens if you pay a retainer fee and then never use the lawyer for any services is it refundable?
But then how does the attorney pay themselves if they use the full retainer to work on the case ??! Whats in it for them ? How do they get paid for their services on the file ? Thanks for your help Peter.
Hourly fees are subtracted from the retainer payment in typical hourly fee arrangements. So, if the retainer payment is $1,000 and the attorney bills out at $250 per hour, he/she will subtract the hours from the retainer. This should all be spelled out clearly in any Engagement Letter or another document when you hire a lawyer.
It depends on the attorney. Some attorneys bill you for everything including travel time. Others do not. However, it is typical for an attorney to bill for time spent in court waiting for a case to be called. The rationale is that the attorney is unable to work on another client's matter because they are covering your case. It is important to discuss billing with an attorney before you hire him or her. Make sure you know what they will be billing you for. Also, make sure to read the retainer/engagement letter. It will typically spell out what the attorney bills for.
Is it money to secure the deal sorry I don't get it
well said i'm calling you!!
+Bodhi Baby Boy Thank you for your comment!! Let me know if there are any topics you would like to see me address in future videos.