Lawyer Retainer: What Does It Mean Pay Only If You Win?



Lawyer Retainer: What Does It Mean Pay Only If You Win?

Generally, this means the attorney will accept your case but will not receive any fee unless your case is successfully completed. The amount of their compensation is a percentage of your award. It is important to ask the attorney what their percentage is before and after legal expenses are subtracted. By law, when an attorney is retained under a contingent fee agreement the “contingency” does not cover the expenses. This means that the client must always be responsible for case expenses regardless of the outcome. The attorney is permitted to advance these expenses but must be reimbursed at the end of the case. You should always have a written fee agreement with your attorney. This can be a document you actually sign, or a letter from the attorney setting forth the fee arrangement.

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Lawyer Retainer

A lawsuit is a civil action brought before a court of law in which a plaintiff, a party who claims to have received damages from a defendant's actions, seeks a legal or equitable remedy. The defendant is required to respond to the plaintiff's complaint. If the plaintiff is successful, judgment will be given in the plaintiff's favor, and a range of court orders may be issued to enforce a right, award damages, or impose an injunction to prevent an act or compel an act. The conduct of a lawsuit is called litigation. Source: http://en.wikipedia.org/wiki/Lawsuit


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Lawyer Retainer: What Does It Mean Pay Only If You Win?

Generally, this means the attorney will accept your case but will not receive any fee unless your case is successfully completed. The amount of their compensation is a percentage of your award. It is important to ask the attorney what their percentage is before and after legal expenses are subtracted. By law, when an attorney is retained under a contingent fee agreement the “contingency” does not cover the expenses. This means that the client must always be responsible for case expenses regardless of the outcome. The attorney is permitted to advance these expenses but must be reimbursed at the end of the case. You should always have a written fee agreement with your attorney. This can be a document you actually sign, or a letter from the attorney setting forth the fee arrangement.

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