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Beverly Michaelis Sheila Blackford Dee Crocker
The Ethics of
Practice Management
Trust Accounting
Beverly Michaelis, J.D.
Practice Management Advisor
What is at Stake?
6 Key Concepts
Protecting Client Money
Resources
Our Topics
6 Key Concepts
Concept #1
Unearned Money Belongs in Trust
1. Retainers
2. Settlement Proceeds
3. Overpayments
Concept #2
Deposit Funds Promptly
Deposit Daily
Protect After Hours
Issue Receipts for Cash
Concept #3
Don’t Spend What You Don’t Have
1. Funds Must Clear
2. Follow the 3-5-10 Rule
3. Be Wary of Check Scams
Concept #4
Account to the Client
Concept #5
Beware of Nonrefundable Fees
Put it in Writing
“Earned Upon Receipt”
Refund if Work not Done
Dishonest?
Concept #6
Strict Liability Applies
Every lawyer shall certify annually
that the lawyer is in compliance with
Rule 1.15-1.
ORPC 1.15-2(m)
Protecting Client Money
To Catch a Thief
1. Endorse and Lockup
2. Protect Credit Card Numbers
3. Cancel Invoices
4. Supervise Staff
5. Learn More
Resources
• Ethics Opinions
• Bar Counsel Article Archive
• Ethics Advice
(503) 620-0222 or (800) 452-8260
www.osbar.org
Oregon State Bar
Practice Aids
Books
CLEs
Practice Management Help
503-639-6911 or 800-452-1639
www.osbplf.org
Beverly Michaelis
Dee Crocker
Sheila Blackford
Trust Accounting
for Solos
Conclusion
1. Remember What is at Stake
2. Follow Proper Procedures
3. Call if you Need Help
How Will You Benefit?
1. Ethical Obligations Met
2. Finances in Order
3. Fewer Fee Disputes
4. No More Sleepless Nights
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