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Questions and Answers
What is required for a lawyer to keep client or third-party property?
What is required for a lawyer to keep client or third-party property?
- Keeping property in a location decided by the lawyer
- Maintaining separate accounts for client funds (correct)
- Mixing client funds with personal funds for easy access
- Depositing all funds into a single account
What constitutes the proper handling of advance legal fees according to Rule 1.15?
What constitutes the proper handling of advance legal fees according to Rule 1.15?
- They can be deposited in any bank account
- They must be returned to the client immediately
- They can be used for personal expenses by the lawyer
- They should be deposited into a client trust account (correct)
What action must a lawyer take upon receiving property in which a client has an interest?
What action must a lawyer take upon receiving property in which a client has an interest?
- Immediately keep the property for themselves
- Promptly notify the client or third person about the property (correct)
- Notify the client after the property is sold
- Withhold the property until the dispute is resolved
How long must a lawyer preserve complete records of client property?
How long must a lawyer preserve complete records of client property?
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What must a lawyer do if there are competing claims for a property during representation?
What must a lawyer do if there are competing claims for a property during representation?
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Study Notes
Safekeeping Property - Client-Lawyer Relationship
- Separate Accounts: Lawyers must maintain separate accounts for client or third-party property. This includes holding funds in a separate account located in the state of the lawyer's office or elsewhere with client consent.
- Other Property: Lawyers must identify and safeguard non-funds property.
- Record Keeping: Lawyers are obligated to maintain complete records of client trust account funds and other property for at least five years after the representation ends.
- Lawyer Funds in Client Trust Account: Lawyers may deposit their own funds into client trust accounts only to cover bank service charges and only in an amount necessary for that purpose.
- Advance Payments: Fees and expenses paid in advance by clients must be deposited into a client trust account. Lawyers can withdraw these funds only as fees are earned or expenses are incurred.
- Prompt Notification and Delivery: Lawyers must promptly notify clients and third parties when they receive property on their behalf. Lawyers are expected to deliver any funds or property that clients or third parties are entitled to receive promptly, and provide a full accounting upon request.
- Disputed Property: When multiple parties claim interests in property held by the lawyer, the lawyer must keep the property separate until the dispute is resolved. Undisputed portions must be distributed promptly.
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