A sample Kovel agreement is a legal document that outlines the terms of an agreement between a client, their attorney, and a third-party accountant. This type of agreement is often used in complex financial cases, such as those involving tax audits or investigations.
Named after the landmark case of United States v. Kovel, this agreement allows for the client to waive their attorney-client privilege and share confidential financial information with the accountant. This information is then used by the accountant to assist the attorney in developing legal strategies and arguments.
The sample Kovel agreement typically includes the following components:
1. Definition of terms: This section defines key terms used throughout the agreement, such as “client,” “attorney,” and “accountant.”
2. Scope of engagement: This section outlines the specific services the accountant will provide, such as preparing financial reports, providing testimony, or advising on tax issues.
3. Confidentiality: This section establishes the confidentiality of all information shared between the client, attorney, and accountant, as well as the steps each party will take to protect this information.
4. Waiver of privilege: This section outlines the client`s waiver of their attorney-client privilege and explains the circumstances under which this waiver applies.
5. Compensation: This section details the fees the accountant will charge for their services, as well as any expenses that may be reimbursed.
6. Termination: This section outlines the circumstances under which the agreement may be terminated by any of the parties involved.
7. Governing law: This section establishes the applicable laws and jurisdiction governing the agreement.
A sample Kovel agreement should be tailored to the specific needs of the client and the case at hand. It is important to consult with an experienced attorney and accountant when creating this type of agreement to ensure that it is legally sound and meets your specific needs. With the right agreement in place, you can rest assured that your confidential financial information is in good hands and that you have the best legal representation possible.