Trumponomics and Legal Fees: How Much Will Trump Really Pay His Lawyers?

Do Trump’s Lawyers Trust That He Will Pay Them?

The financial entanglements surrounding the business magnate and former president, Donald Trump, have been well-documented. However, when it comes to his legal fees, his recent history suggests a similar pattern of payment issues. If his lawyers are anything like criminal lawyers in Chicago, Trump would have to pay a significant portion of the fee upfront to ensure they do their utmost to defend him.

Criminal Defense Lawyers and Upfront Fees

In the world of criminal cases, lawyers are well aware that clients who are convicted often face steeper sentences and consequently, have less money left to cover legal fees. As a result, most criminal defense lawyers require their fees to be paid upfront, irrespective of the client's political leanings.

The Experience of a Young Lawyer

While representing the son of a wealthy Chicago businessman, a young lawyer learned to be cautious regarding post-case payment. This experience taught them that even in successful cases, clients sometimes struggle with cash flow, leaving little room for legal fees. This insight was a stark lesson in the unpredictable nature of client payments in litigation.

Current Economic Context and Payment Delays

With Trump in debt to the tune of 3.1 billion dollars, there's a significant chance that any legal action he takes might be delayed or altogether abandoned. Financial constraints, especially given his current debt level, could mean that any of his lawyers might find themselves waiting for payments, potentially for an extended period. It's not uncommon for clients, particularly those in debt, to endeavor to pay their legal bills in small, manageable chunks or not at all.

Smart Legal Tack

However, there are exceptions. A smart lawyer, aware of the financial hurdles, would require a hefty retainer fee upfront, hence minimizing risk. An astute attorney named Mark Mershon exemplifies this strategy. He requested a 3 million dollar retainer before agreeing to take the Donald Trump case. Given Trump’s financial history, this move can be seen as a prudent legal defense strategy. Others might think he was too prudent, but in a world of financial uncertainty, it's better to err on the side of caution.

Conclusion

Legal professionals who work for Trump would likely benefit from setting up their agreements to require substantial upfront payments. This approach not only secures their fees but also gives them a buffer against the financial uncertainties that are often associated with the Trump name. The take-away is clear: whether they are morons or not, lawyers providing legal advice to Trump should demand a hefty retainer to protect themselves from the risks that come with representing such a high-profile and financially challenged client.

In summary, legal fees for Trump's lawyers will depend on his ability to pay, which may be constrained by his large debt. The smart lawyers, who understand the economic landscape, would demand sizeable retainers upfront to avoid the potential pitfalls of delayed or non-existent payments.