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Attorney Escrow Accounts – What
you need to know!
(1.5 credits in ethics and professionalism)
Co-sponsored
by the General Practice Section and the Committee on Continuing Legal
Education of the New York State Bar Association
The program
describes the model rules for establishing, using, and controlling trust
accounts. The lawyer’s fiduciary and ethical duties will be
addressed as well as how to avoid problems that may result in license
revocation, disciplinary, and/or civil actions.
Other topics
include:
• mandatory
deposits, permissive deposits, and prohibited deposits;
• record-keeping procedures;
• methods for withdrawing legal fees from trust accounts;
• handling clients’
securities and property; and
• accessing escrow accounts.
About the Presenters
Barry E. Jackson
Barry E. Jackson, CPA, CLMSM is currently Executive Director
at Davis & Gilbert. Barry is a Past President of the NY Chapter of
the ALA. Barry is the author of “The Art and Science of Benefits
Provision” which appeared in a 2002 issue of the New York Law
Journal. He teaches CLM classes. He also served as a panelist for
several NYSBA programs and taught law firm financial management for the
NYC Bar in 2007.
Marian C. Rice
Marian C. Rice is a partner in the New York law firm of L’Abbate,
Balkan, Colavita & Contini, LLP, whose practice concentrates on the
representation of attorneys and risk management for lawyers. Ms. Rice
has authored materials for numerous publications and newsletters and has
lectured for many associations, law firms and trade groups on various
topics impacting upon the liability of attorneys. From 1999 to 2003, she
administered the Attorney Loss Prevention Hotline Service for the broker
responsible for the NYSBA sponsored professional liability insurer.
Philip F. Veth
Philip Veth is the Director of Finance for Thacher Proffitt & Wood
LLP, a 320 attorney firm based in New York with four branch offices. He
is responsible for all financial operations and reporting for the firm,
including budgeting, financial analysis, billing, and collections. Phil
manages a staff of 27 and has been with the firm since 2002. He has
served as a panelist at the New York State Bar Association session of
“Understanding the Basics of Accounting” given in January
2007, and “Starting Up Your Own Practice” given in May 2007.
He also taught at the New York City Bar Association session: “Next
Generation Management Series – Law Firm Financial
Management” in February 2007. Phil is currently serving as
Treasurer for the NYC Chapter of the ALA.
This program was recorded on June 4,
2008.
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