Legal Question in Family Law in Indiana
retainer fee
Is a retainer fee applied to the monies accumulated for services rendered and used as a security deposit for legal services?
2 Answers from Attorneys
Re: retainer fee
Please read the following from Find Law:
Retainer Fees : The lawyer is paid a set fee, perhaps based on the lawyer's hourly rate. You can think of a retainer as a "down payment" against which future costs are billed. The retainer is usually placed in a special account and the cost of services is deducted from that account as they accrue. Many retainer fees are non-refundable unless the fee is deemed unreasonable by a court. A retainer fee can also mean that the lawyer is "on call" to handle your legal problems over a period of time.Since this type of fee arrangement can mean several different things, be sure to have the lawyer explain the retainer fee arrangement in detail.
Bottomline, depends on the agreement between the client and counsel.