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Posts published in “Ethics”

Do You Know What to Do with Unclaimed Client Funds in your Trust Account?

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The January 2018 issue of the South Carolina Lawyer magazine has a helpful article by Barbara M. Seymour which outlines exactly how a lawyer must handle unclaimed funds. It also includes advice on making sure you don’t have a problem with unclaimed funds in the future.

Make sure your firm is compliant and read her article today.

Do You Have a Contingency Plan?

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There’s no time like the present to think about your contingency plan.

Sometimes, it’s hard to write a succession plan because you don't like to think about being dead or disabled. However, it is imperativechanging and something all lawyers can do per Law Practice.orgManaging Law Firm Transition and Rule 1.19 of the S.C. Rules of Professional Conduct.

At a minimum, write a letter to your paralegal or the attorney who would mind your office explaining to them what they would need to know if you were outside of service on a long vacation. Then, make an emergency plan should you become disabled, incapacitated or not able to act inside your practice again. Print the Preparation Checklist to plan accordingly. Fill out this form to add your successor(s) to the registry maintained by the Bar. Finally, use this Agreement to Close a Law Practice as a model agreement between you and your successor(s).

There’s no better time to plan than now!

If you have questions or would like more information on succession planning, contact the Practice Management Assistance Program.

Voluntary Good Practices Guidance to Combat Money Laundering and Terrorist Financing

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The ABA Task Force on Gatekeeper Regulation and the Profession has worked with other entities to develop voluntary good practices guidance for lawyers to combat money laundering and terrorist financing. The Task Force has concerns about how mandatory gatekeeper provisions might affect confidential attorney-client relationships and other issues. Below are two publications from the ABA Task Force.