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RayAnswers
RayAnswers, Attorney
Category: Business Law
Satisfied Customers: 42815
Experience:  I have 30 years as a business lawyer in Texas
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I need to understand retainer's Agreement.

Customer Question

I need to understand retainer's Agreement .
Submitted: 2 months ago.
Category: Business Law
Customer: replied 2 months ago.
Photos of Agreement.
Expert:  RayAnswers replied 2 months ago.

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

Expert:  RayAnswers replied 2 months ago.

This is a standard retainer(deposit of funds).The hourly fees are deducted from your $10k deposit.The rates for the lawyers and partners are on page one to set out the charges you are looking at.You have right her to ask any questions you have about it with the firm.

They will deduct their monthly billing from your $10k deposit.Understand that once the $10k has been used up they may ask for more funds.Also legal expenses here, filing fees, copies, etc are also deducted and appear on your billings against the retainer.This appears to be pretty standard agreement it sets out the terms of you agreement with them.

I appreciate the chance to help you tonight.Please let me know if you have more followup.

Thanks and thanks for rating 5 stars.

Customer: replied 2 months ago.
There's "triple hours... "
What's this mean?
Also stsndard to charging triple hours?
Expert:  RayAnswers replied 2 months ago.

It is legal if you agree to it.I agree this lawyer is on the high end of hourly fees.

Customer: replied 2 months ago.
I need your explanation about meaning of " triple hours" in the agreement.
Expert:  RayAnswers replied 2 months ago.

So the triple fees are late fees if you don't pay the bill each month, again thats pretty harsh to me , but legal if you are late paying anything beyond the $10k retainer here and it goes to collection.It is in essence treble damages.

Expert:  RayAnswers replied 2 months ago.

I wanted to add here I reviewed the lawyer and she has great reviews and recommendations from multiple clients.Give your location this is not unreasonable hourly fees.I am sure you have much a t stake in the divorce and I think she would serve you well.She is very highly rated on AVVO by her clients and associates.