What if I dont have a written retainer agreement, can I still deposit the fees in my business account even if the client has no objection?
No. While the Court did not require all retainer agreements to be in writing, the agreement for an advance fee deposited in the business account, however, must be in writing, the agreement must meet certain identified disclosure requirements. If it is not in writing, the agreement will be construed as a security retainer and therefore it must be deposited in the trust account in order to provide the greatest protection for the clients funds.
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- What if I dont have a written retainer agreement, can I still deposit the fees in my business account even if the client has no objection?
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