Retainer Fee
An upfront payment made to a lawyer to secure their services, deposited into a trust account and billed against as work is performed.
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Detailed Explanation
A retainer fee is essentially a down payment on legal services. The money is held in a client trust account, and the attorney deducts fees as they perform work. Common retainer amounts range from $2,500 to $25,000 depending on case complexity. Unused portions should be refunded to the client. Some attorneys charge non-refundable retainers, which should be clearly disclosed in the fee agreement.
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