How Long Is A Lawyer Retainer Good For?

Typically, a lawyer retainer is good for the entirety of the legal matter for which it is paid. Learn more about retainer fees below!

What Is A Lawyer Retainer?

A retainer fee for a lawyer is a sum of money a client pays in advance to secure the lawyer’s services. The retainer is typically held in a trust account and used to cover the lawyer’s fees as they arise.

Clients must understand the terms of the retainer agreement prior to signing on with a lawyer. This will ensure all parties know how the retainer will be used and how long it will be good for. It’s a good idea for clients to discuss legal matters with their lawyer to get an estimate on how long it should take, overall. This will help the client plan and budget for the lawyer’s fees and expenses.

How Long Is A Retainer Good For?

As mentioned above, the retainer fee is generally good for the duration of the client’s legal matter. For instance, if a client pays a retainer fee for a personal injury case, this fee will cover the lawyer’s fees and expenses until said case is resolved. This could take several months or several years, depending on the severity of the case.

The duration of the lawyer’s retainer can vary based on specific terms agreed upon by the lawyer and client. Some agreements may specify the period during which the retainer needs to be used, while others can be open-ended, allowing the retainer to be used indefinitely.

If a client’s retainer runs out before the legal matter is settled, they will need to pay additional funds for the firm to continue with the case. This is referred to as “topping up” your retainer.

Conclusion

The duration of the retainer can change depending on the terms of the agreement and the legal matter for which the retainer is being used. It’s crucial for clients to understand the terms of the agreement and to discuss the legal matter to get a sense of how long the retainer is likely to last. It is possible that the client will have to pay additional funds to continue their case if the retainer runs out before the legal matter is resolved.

Source: “How Long Is A Lawyer Retainer Good For” The Manuel Firm https://theemanuelfirm.com/how-long-is-a-lawyer-retainer-good-for/