How Can Lawyers Avoid Unintentionally Misappropriating Client Funds?

CosmoLex Team

Misappropriating client funds

Misappropriating client funds can have severe repercussions, no matter which jurisdiction you practice in. Although every jurisdiction has its own rules around trust funds, the bottom line is always the same—money in a client’s trust account doesn’t belong to the lawyer until they’ve done the work and billed for it. But what, exactly, counts as misappropriating client funds? Bad apples … Read More

What is considered a misappropriation of trust accounting funds?

CosmoLex Team

Every state has their own rules regarding trust accounts, but they all prohibit the misappropriation of client funds. In order to avoid actions that can be interpreted as misappropriation and land you in an ethics violation, and even possibly result in being disbarred, you should be aware of what it constitutes. As an example of how serious the consequences can … Read More