In the simplest terms, legal advisory services are when an individual or business receives expert guidance on laws, regulations, and legal risks to make informed decisions.
And this is often more than just receiving a legal opinion about a single question. Legal advisory involves reviewing the applicable laws and statutes, analyzing and interpreting them to provide contextual strategic advice on specific situations.
Such advice allows the client to plan policies, ensure compliance, navigate complex legal landscapes, and proactively draft company that are future looking. All with the ultimate goal of avoiding disputes and litigation before they arise.
This is what the wealthy and the Fortune 500 companies have been doing for years. And there is no reason that individuals and smaller businesses should not be following suit.
Now, the client's access to this legal advisory service can be in two forms - either on a question-to-question basis, or if the client per prefers, on a limited retainer basis, wherein the client would pre-pay each month for certain number of hours of legal advice.
The advantage of this retainer is that you would always have a direct line to a trusted advisor who you know will quickly pick up your call. Think of it as your "bat-phone" to an expert legal answer, as opposed to resorting to an internet or AI search with unverifiable results.
As an added bonus, this type of legal expense can be tax deductible, especially for business of all sizes.
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