tenant13
Full time employment: Posting here.
I'm about to hire one to take care of my estate. I wonder if retaining them (they provide a whole range of legal services) makes any sense or should I just worry about law on "as needed" basis?
If having a lawyer on call sounds appealing, stop and think about your legal situation first. Retaining an attorney might be a smart decision, or it could be a waste of money. Ask yourself:
What will you use the attorney for?
- Unless a major accident happens, most people only need an attorney once every few years. If this is true for you, having an attorney on retainer may not be a financially sound decision.
- Check your insurance policies. Most insurance policies, including auto and homeowner's insurance, will pay for an attorney should you be involved in an accident. If this is so, there is no need to pay an attorney as additional insurance against these lawsuits.
Former lawyer here (although technically still licensed). I was big law litigation and boutique litigation depending upon when--and have a long standing avocation for estate and financial planning.
Can't imagine someone with 7 or low 8 figure estate needing to have attorney on retainer for T&E work. (Frankly, can't imagine it for higher net worths either, but concede that my imagination may be faulty at such levels.)