Will the Collection of a Retainer Soon be Illegal?

Ed Poll takes a look at the legality of charging retainers following legislation in some states that deems pre-performance payments illegal.  These measures are the result of questionable mortgage practices during the housing crisis.

California SB 94 is one example of legislation that could impact how lawyers are permitted to charge clients. California is just one of many states considering legislation that could restrict such payments.

Click here for Ed Poll's video  discussing current legislation about pre-performance payments and how this might impact an attorney's ability to collect retainers from clients.

Ed Poll, J.D., M.B.A., CMC, is a recognized expert in law practice management. He helps attorneys & law firms increase profitability, coaching them on issues of internal operations, practice development, & financial matters. Ed enables lawyers to be more effective with their clients with less stress for both the lawyer and the client.. He practiced law for 25 years, has coached lawyers for 20 years, and is the author of 13 leading books. His latest book, Growing Your Law Practice Through Tough Times, will be released in February 2010.   Ed is a Fellow of the College of Law Practice Management, a board-certified Coach to the Legal Profession and a charter member of the Million Dollar Consulting® Hall of Fame. He can be reached at (800) 837-5880, www.lawbiz.com, www.lawbizblog.com and www.lawbizforum.com.  © 2010 Edward Poll & Associates, Inc., reproduced with permission of the author