Attorneys generally charge their clients in one of three ways: (1) an agreed hourly rate, times the number of hours the attorney spends on the matter; (2) a contingent fee, in which the attorney receives a percentage of the amount recovered or received by the client in the matter; or (3) a fixed-fee in which the attorney charges an agreed amount (often with some or all of the fee paid before work begins). If the attorney is charging on an hourly basis, he may require a fee deposit (sometimes called a retainer) to secure payment of the hourly fees. The client may be required to replenish this fee deposit. The attorney must hold the unearned fee deposit in her trust account until she does the work and is entitled to some or all of the payment.
In Missouri, attorneys typically charge clients using one of three fee structures: hourly rates, contingent fees, or fixed fees. Hourly rates involve charging a set amount per hour of work performed on a client's case. A retainer or fee deposit may be required upfront to secure the attorney's services, which is held in a trust account and billed against as work is completed. Contingent fees mean the attorney's payment is a percentage of the client's recovery in the case, aligning the attorney's compensation with the outcome of the matter. Fixed fees are predetermined amounts agreed upon for specific legal services, often paid before work begins. Missouri attorneys are bound by the Rules of Professional Conduct, which require clear communication about fees and mandate that unearned fees be kept in trust accounts until earned.