Let's Talk Money!

Feb 21, 2022

I keep receiving messages, emails, and texts from homeowners who complain about the cost of legal retainers. Some people think help should be free and maybe they are right. But for now, that is not our system. And lawyers, far from being obligated to provide such free service, are required to pay off their loans and investment in education.

The first reason for the complaint is the same as everyone who wants access to the legal system to press a claim or defend one, to wit: the legal system is geared for the use of lawyers and lawyers spend at least 7 years of their education preparing for a license examination that will allow them to practice law. Then they spend another 2-5 years in various forms of apprenticeships before they are able to establish themselves within the firm or on their own.

So while laypeople have every right to appear without a lawyer, they are usually committing a fatal error in doing so. And to prove their claim or establish their defense costs a great deal of money even in minor cases. Most lawyers either paid for their education or received help for living expenses from family, friends, and loans. And the entire time they are in law school or apprenticeship they are passing up opportunities in the private sector for much higher-paying jobs, which results in lost income.

Do the math. If you want access to a lawyer, you have a baseline cost that must pay for their expenses, their investment, and then their time.

To be fair, a retainer of $2,000 for review and analysis of the documents you are referencing plus a review of the title chain is actually a low price. It is unfortunate that there is a general perception that reading and thinking is not “work” for which a lawyer should be compensated. This causes a disconnect and tension between the lawyer and the prospective client.

And there is a reason for that. The reading, analysis, and additional research produce nothing of known value to the prospective client and so they don’t think that a demand for a retainer is fair or just. Nonetheless, the prospective client expects the lawyer to put in hours of time performing those tasks without compensation.

The obvious irony is that without performing those tasks, there is no valuable work that can be performed and no valuable advice that can be offered. The corollary is that a lawyer who offers a lower retainer is telegraphing that he or she will not be doing that work.

The best check on this is to schedule a paid consult after the review so the lawyer can present his or her findings, conclusions, and suggestions for strategies and tactics.

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Neil F Garfield, MBA, JD, 75, is a Florida licensed trial and appellate attorney since 1977. He has received multiple academic and achievement awards in business, accounting and law. He is a former investment banker, securities broker, securities analyst, and financial analyst.
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FORECLOSURE DEFENSE IS NOT SIMPLE. THERE IS NO GUARANTEE OF A FAVORABLE RESULT. THE FORECLOSURE MILLS WILL DO EVERYTHING POSSIBLE TO WEAR YOU DOWN AND UNDERMINE YOUR CONFIDENCE. ALL EVIDENCE SHOWS THAT NO MEANINGFUL SETTLEMENT OCCURS UNTIL THE 11TH HOUR OF LITIGATION.

But challenging the “servicers” and other claimants before they seek enforcement can delay action by them for as much as 12 years or more.

Yes you DO need a lawyer.
If you wish to retain me as a legal consultant please write to me at neilfgarfield@hotmail.com.

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