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New Rules Reflect Renewed Focus on Attorney Trust Accounts - Solo Small Firm Practice News

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Solo Small Firm Practice News


Posted on: Mar 1, 2017

By John P. Higgins, Katz & Korin PC

For most, the new year means personal resolutions to keep for a week and then abandon. For Indiana attorneys, the new year marks the effective date of the new Admission and Discipline Rule 23. The Indiana Supreme Court Disciplinary Commission and its staff have undertaken a wholesale revision of Admission and Discipline Rule 23, which is the rule governing the attorney disciplinary process. The importance of Rule 23 is generally limited only to those unlucky few who find themselves being investigated or prosecuted by the Disciplinary Commission.

However, Rule 23 also contains substantive provisions on how each lawyer must manage his or her trust account. Included in the new Rule 23 is a complete rewrite of the specific attorney trust accounting rules located outside the conceptual fiduciary provisions of Professional Conduct Rule 1.15. These new trust account rules are contained in Sections 29 and 30 and will apply to almost every attorney in private practice. Some of the most notable changes can be seen here.

This article was submitted by Sara M. McClammer, Bennett & McClammer LLP. If you would like to submit content or write an article for the Solo/Small Firm page, please email Kara Sikorski at ksikorski@indybar.org.

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