Understanding Retainer Agreements
Hi, I’m Tulsa divorce attorney Palmer Johnson and welcome to my video series where I address frequently asked questions I get from my family law clients. And a lot of times I find that a divorce may be the first real context that a client has had reason to hire an attorney or really have a lot of dealings with an attorney. It’s a common reason that a lot of everyday people have dealings with an attorney that ordinarily maybe don’t deal with attorneys.
And so some of the things that we do in the way we do business can be kind of foreign and that’s why I’m just going to answer a really simple question which is what is a retainer agreement and how does that work when you go to get a divorce.
How Retainer Agreements Work
Most law firms, including mine, ask clients to pay a retainer at the time they engage the attorney. This money is unearned and goes into a trust account. The attorney will bill against this for the work done at their hourly rate or as specified in a flat fee agreement. As work is completed, the attorney invoices the client and deducts the amount from the retainer.
If after completing work there is money remaining in the retainer, it is returned to the client because it is their money until earned by the attorney. In cases where the retainer is exhausted but the case is ongoing, some attorneys may ask the client to replenish the retainer or continuously keep it at the original amount.
Consult with a Divorce Attorney
If you have questions about retainer agreements or need assistance with a divorce case, contact Tulsa divorce attorney Palmer Johnson for a low-cost consultation. Call 918-770-7117 to schedule an appointment today.