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Retainer of Services
Question: What is a legal retainer in Canada?
Answer: A legal retainer in Canada serves two purposes: it acts as both the agreement between you and your lawyer or paralegal and the advance payment you provide as a guarantee for their services. This advance is typically deposited into a trust account and is used to cover future legal expenses or fees. Payment is drawn from this account as services are rendered, ensuring fair and transparent billing. For knowledgeable guidance in legal matters, consider connecting with DefendCharges.ca™, offering reliable support across Toronto and beyond.
Understanding a Retainer
The term "retainer" has dual meanings in the legal context. It signifies both the agreement you make when engaging a legal professional and the advance payment given as a guarantee for their services. This advance, known as the retainer, is deposited into a trust account controlled by your lawyer or paralegal, and it remains your money.
As your legal case progresses, your lawyer or paralegal will have expenses, known as disbursements. These include court filing fees, travel expenses, and other typical legal costs. They will also bill you for their services as they work on your case.
Periodically, often monthly or after incurring disbursements or earning fees, your lawyer or paralegal will move funds from the trust account to their general business account. The transferred amount will never exceed the due balance for expenses or services rendered.
It's crucial to understand that your lawyer or paralegal can only transfer funds from the trust account for legitimate reimbursements or fees that have been earned through their work. This can be based on hours worked or a predetermined flat rate for specific services, as agreed upon between you and the legal professional.
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