8 Flashcards by Jamone Car

Rule 1.5(e) Fee Splitting
The total fee is ________.

reasonable

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Rule 1.5(e) Fee Splitting

Attorneys within the same firm.

Is that okay?

totally fine

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Rule 1.5(e) Fee Splitting

Attorneys of ________ firms:
oThe splitting of the fee must be proportional to the work performed

oThe client agrees to the arrangement, including the share that each lawyer will receive, in writing.

different

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Rule 1.5(e) Fee Splitting
oThe splitting of the fee must be _____________ to the _______ ________.

oThe client agrees to the arrangement, including the share that each lawyer will receive, in writing.

proportional to the work performed

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Rule 1.5(e) Fee Splitting
oThe splitting of the fee must be proportional to the work performed

oThe client agrees to the arrangement, including the share that each lawyer will receive, in ________.

writing

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If another attorney sends me the case, can I give him a fee for that?

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Advance Payments and Safekeeping Property
Five Basic Duties
1. ?
2.
3.
4.
5.

Segregation

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Advance Payments and Safekeeping Property
Five Basic Duties
1.
2. ?
3.
4.
5.

Record Keeping

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Advance Payments and Safekeeping Property
Five Basic Duties
1.
2.
3. ?
4.
5.

Notification

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Advance Payments and Safekeeping Property
Five Basic Duties
1.
2.
3.
4. ?
5.

Delivery

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Advance Payments and Safekeeping Property
Five Basic Duties
1.
2.
3.
4.
5. ?

Accounting

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Hallmark of all spirit of fees

Keep your money separate from your client’s money. If you have comingled property even if no harm you have breached this rule.

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If you have done initial filings and earn 2K on the first day you can move the 2k from the __________ into the ________ _________.

IOLTA

Operating Account

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Keep ________ so if there are any questions you can look!

records

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If development in the case causes the client to have money such as a settlement check you need to promptly notify the client.

What feels like a reasonable delay is never a reasonable delay notify a client that their funds have come in. Have to notify promptly when it has been received.

What does this refer to?

Notice

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When there is a settlement, the money goes to the _________ and the ________ has to distribute it.

attorney

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Settlement on a car accident comes in but you have outstanding medical, they have to notify you, but they have to ___________ for creditors as well. Other creditors are owed money.

account

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Sometimes there is a dispute over the money. Try self-help first. The undisputed money you can move where it needs to go but the disputed money you have to hold onto until it is resolved. !!

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Rule 1.15(a)
A lawyer shall hold property of clients or third person that is in a lawyer’s possession in connection with a representation __________ from the lawyer’s own property. Funds shall be kept in a separate account maintained in the state where the lawyer’s office is situated. Other property shall be identified as such and appropriately safeguarded.

separate

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(a) A lawyer shall hold property of clients or third person that is in a lawyer’s possession in connection with a representation separate from the lawyer’s own property. Funds shall be kept in a __________ account maintained in the _______ where the lawyer’s office is situated. Other property shall be identified as such and appropriately safeguarded.

seperate

state

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Deposit client funds into your ______ _______.

IOLTA Account

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Is it generally okay to deposit multiple clients funds into one account?

Yes so long as you keep good records

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If you are depositing a significant amount of money or if you’re going to hold it for a longer time, you may need to open a _______, ______ ______ _______ ___________ for your client. Check your jurisdiction’s rules.

separate

interest bearing trust account

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NEVER put your _____ ______ into the _________ account.

own money

IOLTA

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NEVER put your own money into the IOLTA account. Super small exception:

You may put an amount of your money into the account to pay bank fees, and then it must be the precise amount necessary to cover the fees.

Any interest earned on the funds in the account escheats to the state for legal aid programs. What account?

IOLTA Account

Any ________ earned on the funds in the IOLTA account escheats to the state for ______ _____ ________.

interest legal aid programs

As you perform services to earn fees, you may withdraw funds from your _______ and deposit them in your _______ __________.

IOLTA operating account

The only legitimate ways to get money out of the IOLTA: _______ it or ________ it.

earning it or refunding it

Client Property (Other Than Funds) ______ ____ _____, unless circumstances warrant otherwise.

safe deposit box

Rule 1.15 (a), (b), (d), and (e) Record Keeping, Accounting, and Notification 1. ? 2. 3. 4. 5.

1. Keep and maintain records for at least 7 years

Rule 1.15 (a), (b), (d), and (e) Record Keeping, Accounting, and Notification 1. 2. ? 3. 4. 5.

2. Maintain appropriate accountings of the property you are keeping

Rule 1.15 (a), (b), (d), and (e) Record Keeping, Accounting, and Notification 1. 2. 3. ? 4. 5.

3. Notify the client where the property will be kept

Rule 1.15 (a), (b), (d), and (e) Record Keeping, Accounting, and Notification 1. 2. 3. 4. ? 5.

4. If anyone claims an interest in the property, provide a full accounting of the property

Rule 1.15 (a), (b), (d), and (e) Record Keeping, Accounting, and Notification 1. 2. 3. 4. 5. ?

5. Keep property in dispute set aside until the dispute is resolved

If you get _______, you have to notify all of your clients that you have been _______.

suspended suspended

We hold that an attorney _____ _____ only by conferring a benefit on or performing a legal service for the client. Unless the attorney provides some benefit or service in exchange for the fee, the attorney has not earned any fees and, with a possible exception in very limited circumstances, the attorney cannot treat advance fees as her property.

earns fees

We hold that an attorney earns fees only by_______ __ _______ on or performing a legal service for the client. Unless the attorney provides some benefit or service in exchange for the fee, the attorney has not earned any fees and, with a possible exception in very limited circumstances, the attorney cannot treat advance fees as her property.

conferring a benefit

We hold that an attorney earns fees only by conferring a benefit on or ________ ___ ____ ______ for the client. Unless the attorney provides some benefit or service in exchange for the fee, the attorney has not earned any fees and, with a possible exception in very limited circumstances, the attorney cannot treat advance fees as her property.

performing a legal service

We hold that an attorney earns fees only by conferring a benefit on or performing a legal service for the client. Unless the attorney provides some benefit or service in exchange for the fee, the attorney has not earned any fees and, with a possible exception in very limited circumstances, the attorney cannot treat _______ ______ as her property.

advance fees

Unless a _____ ________ states otherwise, all advance fees are unearned upon receipt. (Deposit it into the IOLTA!)

fee agreement

Unless a fee agreement states otherwise, all ______ ______ are unearned upon receipt. (Deposit it into the IOLTA!)

advance fees

Unless a fee agreement states otherwise, all advance fees are _______ _____ ________. (Deposit it into the IOLTA!)

unearned upon receipt

Unless a fee agreement states otherwise, all advance fees are unearned upon receipt. (Deposit it into the _______!)

IOLTA

Through ______ ________, a lawyer and client may provide that the fee is earned on receipt and describe the nature of the benefit conferred.

written agreement

Through written agreement, a lawyer and client may provide that the _____ is earned on receipt and describe the nature of the benefit conferred.

fee

A fee is not “______ ___ _______” simply because it is labeled as such.

earned on receipt

Refunds? *Either the fee is earned upon receipt, or it must be earned *Either the fee has been earned or it hasn’t been. *If it hasn’t been earned, it is still the client’s property. !!

Model Rule 1.5 [4] requiring ______ _______ is permissible, but you must return whatever is not used.

advance payment

________: a lawyer may require her fee to be paid in _________, but she must refund any unearned part of the advance if she is fired or withdraws.

Advance advance

Advance: a lawyer may require her fee to be paid in advance, but she must ______ any unearned part of the advance if she is _______ or _________.

return fired withdraws

__________: a true ________ fee is money that is paid solely to ensure the availability of the lawyer, and the lawyer who is fired or withdraws generally need not refund the _________ fee.

Retainer retainer retainer

Retainer: a true retainer fee is money that is paid solely to ensure the _________ __ ___ _________, and the lawyer who is fired or withdraws generally need not refund the retainer fee.

availability of the lawyer

Retainer: a true retainer fee is money that is paid solely to ensure the availability of the lawyer, and the lawyer who is ________ or __________ generally need not refund the retainer fee.

fired or withdraws

Rule 1.15(d) Multiple Claims to the Property Upon receiving funds or other property in which a client or third person has an interest, a lawyer shall ________ _________ the client or third person. Except as stated in this rule or otherwise permitted by law or by agreement with the client, a lawyer shall promptly deliver to the client or third person any funds or other property that the client or third person is entitled to receive and, upon request by the client or third person, shall promptly render a full accounting regarding such property.

promptly notify

Rule 1.15(d) Multiple Claims to the Property Upon receiving funds or other property in which a client or third person has an interest, a lawyer shall promptly notify the client or third person. Except as stated in this rule or otherwise permitted by law or by agreement with the client, a lawyer shall promptly deliver to the client or third person any funds or other property that the client or third person is entitled to receive and, upon request by the client or third person, shall promptly render a ____ _________ regarding such property.

full accounting

Rule 1.15(e) When in the course of representation, a lawyer is in possession of property in which two or more persons (one of whom may be the lawyer) claim interests, the property shall be ____ _______ by the lawyer until the _______ ___ _______. The lawyer shall promptly distribute all portions of the property as to which the interests are not in dispute.

kept separate dispute is resolved

Fees must be ________.

reasonable

You must communicate the fee to the client in a _______ _______.

reasonable time

Types of fees 1. 2. 3.

1. hourly 2. flat 3. contingent

Fees do not have to be _________.

money

____________ Reservation for your time and yours when it is paid.

Retainer

_____________ _______ Yours when it is earned and disputed fund must stay in trust until determined.

Advanced Fee

What is an interest bearing account?

IOLTA

Settlement checks should go into your _______ _______.

IOLTA Account

___________ or _______ is paid out to the attorney and the attorney is tasked with doing a settlement breakdown that lays out how much goes to them and then cut a check to their client.

settlement verdict

All clients funds go into what account?

IOLTA

Pay employees and rent out of what account?

Operating account

Plaintiff’s work on contingency basis – good work – win for our clients – what cut are we taking on contingency fee basis – 30% maybe 33% - is it worth your license to steal? You won – defense council cuts settlement check and it should go to ______ ________.

IOLTA Account

Settlement or verdict is paid out to the attorney and the attorney is tasked with doing a settlement breakdown that lays out how much goes to them and then cutting a check to their client. Check when the attorney gets it – attorneys will have 2 separate accounts – operating account to pay employees, rent, etc. other is IOLTA account – interest bearing account where all client funds go. You cannot touch until they become your funds. You can transfer them out. Don’t move before supposed to. !!

Minor children settlements have to be approved by a _______.

judge