Retainer Fees and Paying for a Divorce Attorney

When it comes to hiring a Union County divorce attorney, something very highly recommended that anyone going through a divorce in Union County should do, there are two different ways that your attorney may charge you for their services, either a one-time flat fee, or on a retainer fee basis.

While it may be tempting to pay an attorney a one-time price and be done with it, you should probably be wary of any divorce attorney who charges you a flat fee to handle your divorce. In today’s article, we will discuss why this is the case, and how retainer fees work when it comes to paying for your divorce attorney and the representation that you almost certainly need, and definitely deserve, during a process as important to your legal, financial, and parental future as divorce can be.

Why Paying a Flat Fee for a Union County Divorce Attorney Can Be Dangerous

When it comes to any divorce, there is absolutely no way for you, or a divorce attorney, to know how long your divorce will take to resolve. Too many factors depend upon the actions of your spouse and their attorney, your ability to negotiate fair divorce settlement agreements which represent your own individual needs and concerns, and the timeline and schedule of an already over-worked family court system.

This is why most divorce attorneys will generally charge an up-front retainer fee (essentially a down payment for their services), and then add or subtract from this fee once your divorce has been resolved, and it is clear exactly how much time they spent working on your case.

If instead, a divorce attorney offers to represent you for a one-time flat fee, both they and you are taking very serious risks. For example, what if they charge you a certain amount, but your divorce is resolved quicker than you expected. If that attorney were working on a retainer fee basis, they would refund you for this saved time, but an attorney working on a flat-fee basis would not, and you would basically be paying for time and services you never received.. Conversely, if your divorce takes longer than expected, that attorney would essentially be working “for free” past the point where the one-time fee covers their expenses. Does anyone really think they are going to get the best possible service when the professional providing that service is not getting paid for their time or effort? Highly doubtful indeed.

So although the “security” of knowing how much your divorce will cost up-front by paying a flat fee can seem enticing, it comes with the very serious risks of paying more than what you would have otherwise or paying for the services of a divorce attorney who no longer really cares about providing you with the high level of service that you need and deserve during the divorce process.

What You Need to Know About “Retainer Fees”, Westfield Divorce Lawyer

Considering that hiring a divorce attorney who works on a retainer fee basis certainly seems like the more prudent choice, let us now discuss what exactly a retainer fee is, and it works.

First of all, it is important to understand that a retainer fee does not represent the total amount that an attorney’s service will cost, it is simply an initial estimate of the cost, and many times represents the core costs the attorney expects for your divorce (which can obviously change as your divorce progresses). In fact, NJ Court Rule 5:3-5(a) makes it clear that this information needs to be communicated to the client in writing, ideally as part of the retainer fee agreement itself.

Secondly, every divorce attorney has their own system for coming up with an initial retainer fee cost, there is no exact formula for how retainer fees are calculated. However, retainer fees are generally based upon the hourly rate your divorce lawyer charges (something you should also discuss with him or her upfront), and obviously the more costly the lawyer’s hourly rate, the greater their retainer fee will probably be.

Finally, factors such as whether or not your attorney believes you and your spouse can set emotions aside, and work to find fair and reasonable middle-ground solutions to divorce issues like child custody, child support, alimony, and the division of assets will also play a large role in how much time your attorney expects your divorce to take, and by extension, how much their initial retainer fee will be. Or, if it appears that there are issues which will probably necessitate significant investigation or court filings, issues like the division of a family business, or maybe an out-of-state relocation or domestic violence matter, that too can influence how much your attorney charges as part of their initial retainer fee.

So while there is no formula for knowing how much an attorney may charge as part of their retainer fee, there is the significant upside that you can feel confident your divorce lawyer will work hard for you from beginning to end, and that should your divorce take a shorter amount of time than expected, you will receive whatever part of your retainer fee that was not spent as a refund.

Contact a Union County Divorce Attorney Today

At The Law Offices of Edward S. Cooper, we have extensive experience representing our divorce clients from beginning to end, ensuring that their divorce settlement agreements of child custody, child support, alimony, and marital asset division are fair and accurately take into account their unique needs and concerns and that our clients’ divorces set the stage for continued financial success and healthy and positive relationships with their children.

Having already helped many clients in towns across New Jersey and Union County, including Elizabeth, Westfield, Union, Scotch Plains, and Linden to resolve their divorce in exactly this kind of effective, efficient, and attentive manner, our office and Attorney Edward Cooper are prepared to provide you and your family with the kind of legal representation that you need and deserve during your divorce.

To speak with Edward Cooper today in a confidential consultation regarding your divorce, any unique needs and concerns you may have regarding a specific divorce-related issue, or any kind of post-divorce modification or enforcement issue you may be facing, please contact us online, or through our Linden, NJ office at (908) 481-4625.