Flat Fee Vs Retainer Lawyer: Which is Best?

Clients are no longer limited to the classic “retainer lawyer” when seeking legal assistance.  Flat fee services are the new kid in town, and they are making a splash in the legal world.  A flat fee attorney is not the perfect fit for every situation, but they can be a great fit. 

Flat Fee Services: The Basics 

Flat fee services are specifically listed legal service(s) provided for one, flat fee. You never pay more for the service listed/agreed upon.  The lawyer completes your work, you never have to see a bill or worry about replenishing a retainer, and you go on your way.  How does this look practically? Let’s see:

Example – Divorce Paperwork

You want to commence divorce proceedings, but the paperwork is confusing (because it is very confusing).  You select the Document Drafting, Initial Divorce Paperwork” from my flat fee page.  You pay $895.  I send you some intake forms, I answer your questions and you answer my questions. I get you drafts of the initial paperwork.  We edit them together, and once they are “up to par,” you file them with the Court. My services conclude, no surprise bill, and you know your initial paperwork is done properly. 

Example – Estate Planning

You have been dragging your feet on estate planning (who doesn’t) and decide you finally need to get a will. You don’t know where to start, and you get wildly different quotes for estate planning retainers.  You stumble upon my Flat Fee Wills page (or maybe a smart friend referred you).  You fill out the form, you pay a flat fee of $200, I get you drafts within a week.  If they look good, you can execute your will and be done. If they need edits, we do that together and then the documents are ready to be finalized. You did your estate planning easy peasy, for one flat fee. 

Example – Divorce Mediation

You have been ordered to go to mediation for your divorce.  Mediators are expensive and you’re having a hard time finding someone.  You stumble upon my page and see that flat fee mediation services are offered.  You click the link and book a day. I invoice you and your spouse, you each pay your half. On the appointed day, you show up via zoom, we mediate, and you can go as long as you guys need to to resolve your issues (or not, but usually things get resolved) without worrying about racking up a huge bill. 

These situations are all a perfect fit for a flat fee attorney. 

The Retainer Lawyer

What does a retainer fee lawyer mean? A “retainer lawyer” is simply the term I am using for an attorney hired on a full representation basis with a retainer. What is a lawyer retainer fee? .  A lawyer retainer fee is an initial, up-front deposit for the attorney’s time.  The attorney will quote you an amount, you pay that amount, and they bill out of the retainer monthly. They are supposed to provide you with regular retainer statements, and statements of the amount in your retainer upon demand.  As your legal matter proceeds, you may conclude the matter without using the whole retainer, and then you get a refund. Similarly, your case may cost much, much more than anticipated and you will have to make additional retainer deposits, or pay a bill at the end.  

Reading all this, you might wonder, “What is a retainer fee for a lawyer?” The attorney can never tell you 100% how much your matter is going to cost, but will quote an amount they think might cover the job, or get them started. These amounts vary wildly from $1000-$10,000+ depending on the situation and the attorney.  For full representation on divorces with children I typically charge a retainer of $4000-$5000, or more if it is very contentious right from the start. 

When you hire a retainer lawyer, you will enter into what is called a retainer agreement. What is an retainer agreement with a lawyer? A retainer agreement is a contract between you and the lawyer listing the retainer to-be-paid, the hourly rate for the lawyer, the various duties of the lawyer and the client, and any other applicable terms.  Good retainer agreements include expectations of both lawyer and client.  

There is absolutely a great place for a retainer lawyer: contested court hearings, cases where a person wants an attorney by their side for every step regardless of cost, complicated matters that will take an unpredictable path, the list goes on.  

FAQs

Here are a few Frequently Asked Questions

What is the best fit for my situation?

While I would need to consult with you to recommend a path for certain, here’s a little guide as to what is the most cost effective and efficient path, typically. 

What is the most cost effective?

A flat fee attorney offering flat fee services is typically the most cost effective, because there is a cap on the amount charged, and it is often lower than you would pay in a case with a retainer. 

What does a retainer fee lawyer mean?

A retainer fee lawyer is an attorney hired using a retainer.  Retainers vary, and it depends on the situation and attorney what will be charged.

What if I purchase flat fee services, but need to go to Court later?

A really great cost-saving measure is to purchase flat fee services for document drafting, and then just hire an attorney IF NEEDED later.  At that point, the retainer for the attorney should be a lawyer because they will not have to do any drafting, they will just need to prepare for the hearing. 

Is my situation a good fit for flat fee services, or retainer lawyer services?

I like to chat with people to get a full read on the situation and list your options.  I offer a 30-minute phone consultation ($75) to assess your situation. Get in touch with us if you would like to schedule. 

How We Can Help You!

Thanks for sticking around for this comprehensive look at flat fee services vs. retainer lawyer services.  You can follow these links for more information on our flat fee services, flat fee mediation, and flat fee wills. You can go here to get in touch with us for more information or any other questions you may have!