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 Mississippi, attorneys may charge clients using one of three common fee structures: hourly rates, contingent fees, or fixed fees. For hourly rates, attorneys bill clients based on the actual time spent working on a case, multiplied by an agreed-upon hourly rate. A retainer or fee deposit may be required upfront to secure the attorney's services, which the attorney holds in a trust account until the work is performed and the fees are earned. Clients might need to replenish this deposit over time. Contingent fees involve the attorney receiving a predetermined percentage of the client's recovery or settlement in a case, aligning the attorney's compensation with the outcome of the matter. Fixed fees are set amounts agreed upon before the attorney begins work, and these are often paid in part or in full upfront. Mississippi attorneys are bound by the Mississippi Rules of Professional Conduct, which provide guidelines for reasonable fees and the handling of client funds.