Originally Posted by regnis View Post
Originally Posted by accountinquestion View Post
The whole thing seems idiotic at the core. "Transparency". How is having a 2nd account going to matter? Just so much wrong with this idea.



BTW I am curious about Mr V's mentioning that the interest rate in a trust account went to the state bar?? THat is a thing??

Dan Druff, please look into post limiting Kewl.
Account—it may vary from state to state but in my state all interest in an attorney/client trust account does go to the state. I may be holding as much as a million as a down payment on a sale of a business, for several months, but i dont get that interest.
In answer to someone else’s question, i have only one trust account and funds from various clients are comingled. All subject to strict record keeping. They love to suspend or disbar you here for any impropriety in the trust account.
It makes sense now that i think about it. It removes the incentive of the attorney to angle for interest somehow. Just in and out. Straight forward. You don't need more transparency than that. And like you said, if the client smells something fishy the bar is easy enough to contact.

On some level I feel sorry for Kewl just because he can't figure out what his story should be.