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Law Pro
Law Pro, Attorney
Category: Legal
Satisfied Customers: 24870
Experience:  20 years legal practitioner: real estate, collections, estate, civil, business, and criminal law
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How can I find Alaska/Federal Statutes on lawsuits where the

Customer Question

How can I find Alaska/Federal Statutes on lawsuits where the appointed lawyers are required by law to put their clients monies in a trust fund under the lawyers name before the funds for the client is released ?
Submitted: 6 years ago.
Category: Legal
Expert:  Law Pro replied 6 years ago.
What type of case is this that the attorney's were holding their client's monies?
Customer: replied 6 years ago.

 

lawsuit

Expert:  Law Pro replied 6 years ago.
What type of lawsuit - personal injury or breach of contract or debt collection or what?
Customer: replied 6 years ago.

 

my question is : Is there a statute bylaw in the Alaska Judicial System and or in theFederal Judicial System where the lawyers representing clients concerning lawsuits where the Lawyers are required by law to put their clients funds from the lawsuit in a trust fund before releasing the funds to the client that they are representing.

Expert:  Law Pro replied 6 years ago.
They must put the monies in escrow if they receive a lump sum from which they are to take their fees from.

The statute or law derives from the Professional Rules of Conduct which each state mandates.

In Alaska - the requirement that clients funds are to be held in a separate trust/escrow account are:

A lawyer is required to keep a client's funds or other property entrusted to the lawyer separate from the lawyer's own property, ARPC 1.15(a), and deliver it to the client and render an accounting whenever the client so directs. ARPC 1.15(b).