Having Lawyers on Retainer is a Perk of Wealth. Here’s Why It’s Important

Wealthy people often pay a lot of money to have a team of lawyers on retainer, which means that their lawyers are on hand to represent them or answer their legal questions at a moment’s notice. Essentially, wealthy people pay for their expected legal services in advance of needing them so that when their services are required, these lawyers are already known and available. The criminal lawyers at Posner Craig Stein LLP explain why keeping lawyers on retainer is important in today’s society.

 

Everyone Wants to Sue

 

There’s no question that we live in a litigious society. Everyone wants to sue everyone else to get a financial windfall. For this reason, people who have a lot of money are often the target of lawsuits, and whether they are frivolous or not, they have to employ lawyers to take care of them until they are either settled or dismissed. This isn’t a cheap endeavor, but by prepaying for their services, they usually get a discount because the lawyers receive an upfront payment that allows them to budget for other expenses.

 

Most people who do not have extreme wealth aren’t the target of civil lawsuits nearly as often as those who do, so it makes sense to have civil lawyers on retainer if you earn over a certain amount of money. Otherwise, it might just be wise to know the phone number of a lawyer you can turn to if you find yourself in the position of needing one.

 

Accidental Crimes Are Real

 

Laws change all the time, especially in business when new regulations are passed and implemented almost constantly. It’s easy for someone to run afoul of the law without realizing it. Often, these errors can be corrected without facing criminal charges, but sometimes, if the offense is grievous enough, a criminal lawyer becomes necessary. People who own large businesses have criminal lawyers on retainer just as they do civil lawyers. This is because they are taking precautions against accidentally committing a crime.

 

In a case like this, a criminal lawyer can handle the case to make sure the business owner stays out of prison. Of course, they can’t always do that, but they can get the shortest prison term possible if they aren’t able to avoid it altogether. Keep in mind that ignorance of the law is not a defense, so even if you accidentally break the law, you are still susceptible to the consequences that come with that crime. Most of us won’t be in a position to commit an accidental white-collar crime, but those who are should ensure they’re protected by having a criminal lawyer on retainer.

 

Bond Out of Jail More Quickly

 

When you have a criminal lawyer on retainer, you’ll also be able to bond out of jail more quickly if you are arrested. This is because you’ll already be known by the legal office and they’ll know you’re going to pay your bills because you already have. You won’t have to search around for a lawyer to bail you out because you’ll have one on speed dial. This means you’ll spend less time in jail than if you didn’t have a lawyer on retainer.

 

Conclusion

 

There are many benefits to being wealthy and keeping a team of lawyers on retainer is one of them. Don’t leave yourself open to potential legal problems by not preparing ahead of time by finding your team of lawyers today

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