How do I determine if my retainer agreement is an advance payment, a security retainer or a classic retainer?
The type of retainer that is appropriate will depend on the circumstances of each case. In deciding which kind of retainer to use, look to the ”guiding principle,” which, the Court admonished, ”should be the protection of the client’s interests. Dowling at *11. To best protect those funds, the Court concluded that [i]n the vast majority of cases, this will dictate that funds paid to retain a lawyer will be considered a security retainer and placed in a client trust account, pursuant to Rule 1.15. An advance payment retainer can be entered into only when necessary to accomplish some purpose for the client that cannot be accomplished by using a security retainer.” Id.. The Court found that the use of an advance retainer agreement was appropriate in instances where a client is facing bankruptcy, a collection action or a criminal forfeiture proceeding and therefore needs to secure sufficient funds out of the reach of seizure in order to hire counsel. 6. Under what circumstance is a dep
