Syracuse, New York, Personal Injury: What Is a Retainer Agreement?

Jed Dietrich, Esq., Recognized as a Best Lawyer in America and an America’s Top 100 Personal Injury Attorney, Has Spent His Entire Career Fighting for The Rights of Accident Victims. If You Have Been Injured in a Serious Accident That Was Not Your Fault, the Dietrich Law Firm P.C. Could Help You Explore Your Options for Compensation and Begin Building Back Better.

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A retainer agreement is a contract between a lawyer and their client.

If you are looking for a personal injury attorney, you should be able to receive a free consultation before deciding whether or not you would like to hire a particular attorney. Once you decide on a lawyer, you will likely be asked to sign a retainer agreement. These agreements are legally binding and can serve important purposes. In brief, a retainer agreement spells out the terms of the service, or services, that your attorney will provide; it might also discuss the terms of your payment, if any, and stipulate the percentage of the contingent fee you will make after your case has been resolved.

Retainer agreements should be transparent and fair to both the client and attorney. In New York, special professional rules, some set by the state and others by the court, set limits on what can go into a retainer agreement as well as how much money a personal injury lawyer can charge for their services. Signing a retainer agreement does not mean you cannot switch attorneys if you do not think that yours is a good fit, but you should always read the text of your agreement carefully and ask any questions you think could be relevant to your representation.

No matter the circumstances, you should never commit to a personal injury lawyer if you do not think they have the experience, fortitude, and communication skills to give your case the attention it deserves. Do not take chances with your right to a fair recovery. Since our founding in 2005, the Dietrich Law Firm P.C. has fought to protect the rights of accident victims in Syracuse and throughout Upstate New York. We know what it takes to build a compelling, evidence-based claim for compensation, and we have the results to prove it. Call Jed Dietrich, Esq., at 1-866-529-5334 to speak to a personal injury lawyer near Syracuse and schedule your 100% free, no-obligation consultation as soon as possible.

Retainer Agreements In New York Personal Injury Claims

A retainer agreement is a broad category of contract, which means that language and terms typically vary from one case to another. However, almost every retainer agreement serves the same basic purpose; they are structured to detail the terms of a client-attorney relationship. Most retainer agreements will explain:

1. Your goals and the expectations of your attorney;
2. The frequency of communication between you and your lawyer as your case moves through the legal system; and
3. The terms of payment, including payment for services, legal fees, and miscellaneous costs.

Some law firms use their own in-house templates for retainer agreements, while others may customize a contract to better suit the unique circumstances of your accident. Although retainer agreements rarely contain the exact same language, they usually come in any one of the following forms:

1. The general retainer agreement. A general retainer agreement contracts the services of a lawyer or law firm for a specified period of time. Attorneys who work on general retainer agreements are basically “on-call” and may be asked to lend their legal expertise on a case-by-case basis or whenever needed.

1. The retaining fee agreement. A retaining fee agreement usually hinges on the client making an advance payment to a trust account. This trust’s funds are then used to cover the costs of representation. Once the case has been resolved, any leftover money is returned to the client.

1. The special retainer agreement. You may be asked to sign a special retainer agreement if you are hiring a lawyer for a very specific task. Criminal defense attorneys, for instance, often work on special retainer agreements. These contracts may specify an hourly fee, but clients are often asked to reimburse their lawyer’s legal fees and administrative expenses.

The retainer agreements used by personal injury lawyers can fit into any of these categories, but most contracts include another critical stipulation: the contingency fee arrangement, which lets accident victims limit risk by paying their attorney only after their case has been resolved and compensation obtained.

Contingency Fees And Retainer Agreements In Personal Injury Lawsuits

One of the biggest perceived barriers to legal representation is the cost of hiring an experienced attorney. However, while some lawyers might ask corporate clients or criminal defendants to pay for services upfront and in advance, the Dietrich Law Firm P.C. works exclusively with accident victims. Our attorneys understand that, after an accident, money is often tight, which is why we work on a strict contingent fee basis.

A contingency fee agreement, sometimes termed a contingent fee agreement, could be considered a distinctive type of retainer agreement. The biggest difference between a contingent fee agreement and other kinds of retainers is that, with a contingent fee agreement, you would not likely have any immediate out-of-pocket costs.

Instead, personal injury retainer agreements usually detail the following:

1. The expectation that you will work with a certain law firm or lawyer until your case has been resolved, provided that you find the attorney’s service acceptable;
2. The understanding that you will bear no out-of-pocket responsibility for the cost of your lawyer’s legal services and routine legal costs; and
3. The agreement that, if your case succeeds, your attorney will be entitled to take payment as a fixed, pre-determined percentage of your settlement or court-ordered award.

Contingent fee agreements can benefit both personal injury lawyers and their clients. If your attorney cannot win your case, they do not get paid, and you would not be liable for their time and financial losses, if any.

The Dietrich Law Firm P.C. only takes cases on a contingent fee basis. Over the past 25 years, we have helped our clients in Syracuse and throughout the region recover more than $250 million in damages. We could help you, too. Contact us online or call us at 1-866-529-5334 to speak to a personal injury lawyer near Syracuse and schedule your risk-free consultation as soon as possible.

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Call the Dietrich Law Firm P.C. immediately at 1-866-529-5334 so that our aggressive, tenacious, and hardworking personal injury lawyers can fight to obtain the best result for your personal injury claim in Syracuse, New York. We are available 24 hours a day, 7 days a week, and there is never a fee until we WIN for you!

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