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Calendar

8/29/2014
Technology, Ethics, and Law Practice Management

Trust Account Refresher
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Trust Account Refresher

7/8/2014

When: July 8, 2014
1:00 - 2:00 PM
Where: Holdrege Country Club
314 W 18th Ave
Holdrege, Nebraska  68949
United States
Presenter:
Phelps County Bar Association

Details
MCLE Accreditation
Nebraska MCLE Activity #93790. 1 CLE ethics hour.

Registration:  Please RSVP to Natalie Nelsen at (308) 995-8621.

This 1-hour seminar is sponsored by the Phelps County Bar Association
and there is no charge to attend.


The Nebraska Court Rules of Professional Conduct impose strict fiduciary standards on any lawyer who holds the property of others. These standards are detailed in Nebraska Court Rule of Professional Conduct §3-501.15, “Safekeeping Property.” As violations of the Rules can result in harsh discipline, including disbarment, it is crucial that lawyers thoroughly understand the rules and employ proper procedures.

This presentation focuses upon a lawyer’s responsibilities for the safekeeping of money held in a trust account. Other types of property held on behalf of clients and third parties must also be safeguarded under a lawyer’s fiduciary responsibility. Specifics related to the manner of retaining items other than money can also be found in Neb. Ct. R. of Prof. Cond. §3-501.15.

Topics to be addressed include:
  • What constitutes “trust funds?
  • Where should I deposit trust funds?
  • What is an IOLTA account?
  • What is a Non-IOLTA account?
  • Should I use an IOLTA or non-IOLTA account?
  • How do I open an IOLTA account?
  • What are the reporting requirements for an IOLTA account and how often must interest be paid?
  • What accounting procedures and records are needed?
  • Can trust account bookkeeping functions be delegated?
  • Misappropriation of Client Funds – Sanctions

Kent L. Frobish is Assistant Counsel for Discipline for the Nebraska Supreme Court. His office investigates and prosecutes violations of the Nebraska Rules of Professional Conduct. Kent joined the Office of Counsel for Discipline in 1996. He has briefed and argued to the
Nebraska Supreme Court over 60 lawyer disciplinary cases. Kent is a frequent speaker at CLE events and seminars. Prior to working with Counsel for Discipline Kent was in private civil practice in Lincoln. He received his J.D. from the University of Kansas in 1983.
 
 
 

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Nebraska State Bar Association, 635 S. 14th St., Suite 200, P.O. Box 81809, Lincoln, NE 68508
(402) 475-7091; Toll Free (800) 927-0117; FAX (402) 475-7098