These summaries were prepared by McGuireWoods LLP lawyer Thomas E. Spahn. They are based on the letter opinions issued by the Virginia State Bar. Any editorial comments reflect Mr. Spahn's current personal views, and not the opinions of the Virginia State Bar, McGuireWoods or its clients. 
 Back to main menu

  Print This Leo
LEO NumTopicsSummary

8-Bills and Fees

38-Fee Splitting

40-Trust Accounts

A lawyer may not enter into a fixed fee retainer arrangement in which a finance company pays the lawyer the fixed fee amount (minus a discount) at the beginning of the case, with the client being responsible for making monthly payments to the finance company for the full fee amount plus interest, because the discount retained by the finance company at the beginning of the case amounts to impermissible fee-sharing; any advanced fee must be kept in the lawyer's trust account until the lawyer has "performed the corresponding services."

Copyright 2000, Thomas E. Spahn