Why is it Important to have a Lawyer on Retainer?
You’ve probably seen or heard this before: “you’ll be hearing from my lawyer” or “my lawyer will deal with this.” This is a fairly common phrase, especially in the movies where you see someone being caught in a legal conundrum.
So, what exactly does it mean to have a lawyer on retainer? Do business people only use it, or can individuals also have lawyers on retainer? What are the benefits of this? Get all the answers to these and many other questions that you may have in our quick overview of the importance of having a lawyer on retainer.
What does it imply to have a lawyer on retainer?
Having a lawyer on retainer from cornwalls means that you — the client — get and pay a lawyer (or a law firm) a small amount of money regularly. In return, the lawyer gets to perform various specific legal services at your convenience. This means that the lawyer will respond to your legal needs whenever you require them or during the length of your contract.
It is important to get a lawyer on retainer when running a business. This is because lawyers will always avail themselves of assistance with constant or semi-recurring legal work. A lawyer will be available to your business to help you sort out legal issues, such as ensuring regulatory compliance, document review, or even representing the business in contract or employment disputes.
Individuals that are likely to need a lot of legal work, especially top businesspeople or those with a higher net worth, may also want to keep a lawyer on retainer.
Why is it important to have a lawyer on retainer?
There are many reasons why it would be advisable to have a lawyer on retainer, especially if you are a mid-range business or have a higher net worth, hence prone to various legal concerns.
Some of the reasons for having a lawyer on retainer include:
Having a lawyer on retainer gives you peace of mind. This is because you know that you have reliable legal advice or representation whenever you need it. Businesses, for instance, are constantly grappling with legal concerns, which vary from employment to immigration laws, data protection, tax matters, and so much more.
With a lawyer on retainer, you can always simply pick up the phone and get immediate legal assistance without worrying about the cost of each service or consultation.
- The right fit
Instead of hiring a new lawyer now and then, you’d rather have one that understands your business and needs. These lawyers will take the time to understand your needs and will be better positioned to offer legal advice or representation when needed.
Hiring a new lawyer every time can be a time-consuming and ultimately expensive task. Furthermore, if you are a mid-range business or individual, it might be quite costly to have an in-house lawyer.
Having a lawyer on retainer is far more affordable as you only pay them a small amount payable within an agreed period. This option is often cheaper than hiring a new lawyer every time or having an in-house employee.
No matter your legal needs, you require legal advice from a lawyer or firm that puts your needs first before anything else. It is important to go for a lawyer that will not put a dent in your pocket while not sacrificing excellent services. Only go to reputable law firms, such as cornwalls, and learn more on how you can get legal services on retainer.