NALS/LAPSEN Accredited Legal Professional (ALP) Vocabulary Practice Exam 2026 - Free ALP Vocabulary Practice Questions and Study Guide

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What is a retainer account in a law practice?

The fee paid at the beginning of representation to secure a lawyer's services, deposited into a Trust Account.

A retainer is an upfront amount a client pays to secure the attorney’s services for future work. That money is placed in a Trust Account, keeping it separate from the firm’s own funds and protecting the client’s money. As work is performed, fees and costs are billed against the retainer, reducing the balance, and any unused portion is either refunded or carried forward as agreed. This setup is different from paying after services are rendered or from an account used to handle court filing fees, and it isn’t a firm-owned savings account—the retainer remains the client’s funds held in trust until earned.

The monthly billing arrangement after services are rendered.

An account used to manage court filing fees.

A savings account owned by the firm.

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