Understanding Evergreen Retainers
When hiring an attorney, there are different types of agreements to choose from depending on the case and the attorney’s preferences. I’m Tulsa attorney James Wirth. One common type is the hourly retainer, where you pay for the attorney’s time on an ongoing basis. Within this category, there is a specific type known as the evergreen retainer.
An evergreen retainer requires you to pay a set amount upfront, which is then held in a trust account. As the Tulsa attorney works on your case and bills for their time, you replenish the retainer by paying the billed amount. Essentially, it’s like maintaining a deposit to ensure ongoing legal representation.
How an Evergreen Retainer Works
Think of an evergreen retainer as a security deposit for ongoing legal services. Just like paying rent for an apartment, you need to maintain the retainer balance to ensure that the attorney continues working on your case. Weekly invoicing helps you track the work done and the amount billed.
By keeping the retainer balance topped up, you ensure that the attorney can focus on your case without worrying about payment collection. It’s like keeping the gas tank full to keep your car running smoothly. And once your case is resolved, you get back the remaining balance of the evergreen retainer.
Schedule a Low-Cost Initial Strategy Session
If you have further questions about evergreen retainers or any other legal matters in Oklahoma, don’t hesitate to reach out for a private and confidential consultation. Contact us at 918-879-1681 or visit MakeLawEasy.com to schedule a low-cost initial strategy session with an attorney at our office. We’re here to help you navigate the legal process with ease.
