Syracuse, NY—A legal retainer is a prepayment made by a client for legal services. If an individual were to hire a lawyer who charges an hourly rate, they might collect money up front (i.e. a retainer) that will be used to cover attorney fees and any other legal fees associated with the case as it progresses.
A legal retainer acts almost like a checking account. A certain amount is paid up front, which is considered the “legal retainer,” and as the case unfolds, money is used from it as needed.
Here’s an example.
A personal injury lawyer is hired on an hourly basis to represent an injured party. The attorney asks for a retainer fee of $1,000. As the lawyer works on the case, he/she will deduct money from the retainer for each hour that is worked. If certain forms need to be filed with the court or other legal costs come up, the retainer would be used to satisfy those expenses.
Now, if a case closes before the retainer is depleted, then any remaining amount would be refunded back to the client. In the event the retainer runs out, then it will need to be replenished in order for legal services to continue.
Do all personal injury lawyers work on retainer fees?
No. In fact, many personal injury lawyers work on a contingency basis. When a lawyer works on a contingency basis, they only get paid if they win the case. The Syracuse, NY personal injury attorneys at Stanley Law work on a contingency basis and generally only collect one-third of the recovery.
Essentially, what this means if an accident victim doesn’t have money to pay for legal services up front, they could contact Stanley Law, find out if they have a case, and hire a Syracuse personal injury lawyer without having to pay the usual legal fees other accident victims might encounter.
Contact Stanley Law to find out how much a personal injury case is worth
If an individual was involved in an accident in Syracuse, NY that was caused by someone else or occurred on public or private property, they are invited to contact Stanley Law for a free consultation. Should they have a case, the Syracuse personal injury lawyers at this firm can help them identify the liable parties and pursue them for compensation to cover medical expenses, lost wages, and more.
Stanley Law has multiple offices in Central New York that are located at:
215 Burnet Avenue
Syracuse, NY 13203
84 Court St., Ste 414
Binghamton, NY 13901
200 Washington St., Ste 407A
Watertown, NY 13601
510 Clinton Square, Ste 521
Rochester, NY 14604
22 Public Avenue
Montrose, PA 18801