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Safekeeping Property · 2-8% of the exam

Chapter 20Safekeeping client property

The trust account

The organizing question:

The organizing question: "Whose money is it?" — every Rule 1.15 answer follows from it. Determine ownership first; the duties (segregate, account, notify, deliver, and keep records) flow automatically from that answer.

8 sections

The trust account: setup and the no-commingling wall (Rule 1.15(a)–(c))

  1. 20.1.1No commingling: the cardinal rule (Rule 1.15(a)–(c))
  2. 20.1.2Advance fees vs. true retainers (Rule 1.15(c))

Holding, tracking, and releasing client property (Rule 1.15(a), (c), (d))

  1. 20.2.1Safekeeping other property and records (Rule 1.15(a))
  2. 20.2.2Notification, delivery, and accounting (Rule 1.15(d))
  3. 20.2.3Withdrawal timing: only as earned (Rule 1.15(c))

Third persons and the disputed-funds freeze (Rule 1.15(e))

  1. 20.3.1Third-person funds: scope of the rule (Rule 1.15)
  2. 20.3.2Disputed funds: the distribution rule (Rule 1.15(e))
  3. 20.3.3Third-party claims to client funds (Rule 1.15(e))
Start with 20.1.1No commingling: the cardinal rule (Rule 1.15(a)–(c))
Chapter 20 · Safekeeping client property · Open Bar Review