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May a lawyer continue to invest individual client funds into separate interest- bearing accounts for the benefit of clients?

April 26, 2017accounts bearing client Continue funds individual invest Lawyer separate

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May a lawyer continue to invest individual client funds into separate interest- bearing accounts for the benefit of clients?

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A. Absolutely. Lawyers should continue to establish separate, interest-bearing accounts for individual client funds where the sum is large enough or when the time of the deposit is of sufficient duration to justify the cost of opening, administering and closing the account. Any interest accrued on such an account then becomes the property of the client. Q. May a lawyer place client trust funds in an interest-bearing account and keep the interest?