When you are in need of legal advice or representation, you may wonder what it is called when you hire a lawyer. Generally, when you hire a lawyer, you are said to be “retaining” them. The money you pay to the attorney is known as “the retainer.” The agreement signed when someone hires a lawyer is known as a “retainer agreement.”
A retainer agreement is a contract between a lawyer and a client that outlines the scope of the lawyer’s services, the fee structure, and other details of the legal representation. The agreement will also set out the terms of payment, the timeline for the legal services, and any other relevant information.
It is important to note that having a lawyer “on retainer” is not the same as retaining a lawyer. When you have a lawyer “on retainer,” you are paying the lawyer a set fee to be available to provide legal advice or representation when needed. This fee is typically paid in advance and is non-refundable.
When you retain a lawyer, you are hiring them to provide legal services for a specific case or issue. The lawyer will charge an hourly rate or a flat fee for their services. The lawyer will also require a retainer fee, which is a deposit that is used to cover the lawyer’s expenses and fees.
Finally, don’t be confused by the terms “retainer” or “retainer agreement.” Generally, these are not the same as having a lawyer “on retainer.” When you “retain” a lawyer, that simply means that you are hiring them, and the money you paid to the attorney is known as “the retainer.” The agreement signed when someone hires a lawyer is known as a “retainer agreement.”
When you are in need of legal advice or representation, it is important to understand the terms associated with hiring a lawyer. Knowing the difference between having a lawyer “on retainer” and “retaining” a lawyer can help you make an informed decision about your legal representation. 04.01.2022.
