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What
is a retainer? Can I afford it?
Many small businesses and
individuals are intimidated at the thought of having an
attorney on retainer, but it is really a very good idea, and
not nearly as intimidating or as expensive as it sounds. A
retainer ensures that your attorney’s services are there
when they are needed, so that you are not scrambling to find
an attorney at the last minute. The relationship of trust
that is created is important as well, because when legal
services are needed, you will know your attorney.
A small business or individual can benefit greatly by having
an attorney on retainer to answer legal questions and
perform legal work on an as-needed basis. In addition,
unlike pre-paid legal, the client’s money is held in trust
in a bank account monitored by the State Bar, and the money
remains the client’s money until services are rendered.
That means that you are not paying in advance for legal
services that you may never need, and if you decide you no
longer want an attorney on retainer, the money that you have
not already used for legal services is returned to you.
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