Any grievance committee member can tell you that escrow violations result in more suspensions and disbarments than any other category of attorney misconduct. Fortunately, the steps for safely using an attorney escrow account and holding property for others are clearly laid out in Rule 1.15 of the Rules of Professional Conduct (RPC) and its commentary. No lawyer should assume these responsibilities without a thorough understanding of the rule.
Core Responsibilities
Rule 1.15 mandates three core duties: fidelity, security and proper accounting. The rule recognizes the attorney as a fiduciary on behalf of the owner of the funds or property held. The attorney must act in the best interests of the owner and exercise a high degree of vigilance to ensure that the property is returned upon request.1
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