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In this video, divorce attorney Josh Stern from Chicago discusses hourly rates and retainer agreements. He explains that a retainer agreement is a contract outlining the scope of work, services provided, and the agreed-upon hourly rate. Stern emphasizes that the rate for current clients will not change during their case, even if he raises his rates for future clients. He advises clients to carefully read their retainer agreements, stating it is not beneficial for an attorney to have the ability to increase rates mid-case. The importance of understanding these agreements is highlighted to prevent unexpected costs for clients.
