What is a lawyer retainer?,If someone threatens to call “your” lawyer, it probably means they have one “under contract”. A lawyer on a fee basis means that you, as a client lawyer, pay a small fee to one on a regular basis. In return, the attorney provides specific legal services whenever YOU need them.
Advances are most useful for businesses, “what is a retainer for a lawyer” that need ongoing or semi-annual legal work but don’t have enough money to hire a full-time attorney. This could include services such as ensuring legal compliance, reviewing documents, or representing the company in labor or contractual disputes. Additionally, individuals who are likely to need a great deal of legal work, typically those of higher net worth, will continue to retain an lawyer as an advance.
If having an on-call attorney sounds appealing, first think about your legal situation. Hiring an attorney can be a wise decision, or it could be a waste of money. question:
What would you use the attornet for? Barring a major accident, most single people need a lawyer every few years. If this applies to you, hiring an attorney may not be a wise decision.
Check your insurance policies. Most insurance policies, including auto and home insurance, will pay for you if you are involved in an accident. If this is the case, then there is no need to pay a lawyer as additional insurance against these lawsuits.
Check your benefits. If you are employed by a large company or a member of a union, an on-call attorney may be part of your benefits. These attorneys can handle most routine legal matters, such as wills and real estate transactions, as well as certain court cases. Paying another attorney on a fee basis when you already have one through your employer generally does not make financial sense.
Finally, don’t let the terms “advance” or “retainer agreement” confuse you. In general, this is not the same as having a lawyer “for a fee.” When YOU ‘hire’ a lawyer, it simply means you hire him and the money you have paid the attorney is called an ‘assistant’. The agreement that will be signed when someone hires an attorney WILL be called an Advance Agreement.
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