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. 
 
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8-Bills and Fees
In litigation matters, clients' payment of advanced costs and expenses may be contingent on the outcome. A lawyer may pay amounts received in collection cases to the client, with the lawyer keeping only what is awarded as attorneys' fees. A lawyer may receive a monthly retainer for collection work, but must pay back any amount of the retainer that exceeds the funds recovered.

Copyright 2000, Thomas E. Spahn