On a flat-fee retainer with the entire fee held in trust, can the law firm render a statement of account for the entire quoted fee although only partial services have been performed?
All subsequent work would be considered free. The services performed to date may justify the amount on the statement of account. The entire funds cannot be transferred from trust until the agreed services have been performed. A partial transfer of the amount held in trust is permissible when the amount equals the proportion of work completed, and only then as a result of a written prearrangement with the client.
Related Questions
- On a flat-fee retainer with the entire fee held in trust, can the lawyer include a provision for future services on the statement of account?
- May a lawyer or law firm establish a pooled interest-bearing trust account and pay the interest to the clients?
- Can a law firm use internet banking to perform their trust account and general banking transactions?
