OSB Professional Liability Fund

  • Assessing and Remitting Abandoned Funds

    August 11, 2017

    Abandoned unclaimed lawyer trust funds
    The safekeeping of property is a well-known responsibility of lawyers. Attorneys understand that we must take great care in holding and accounting for any money in our possession that belongs to clients or third parties. But what happens when a lawyer has kept a client’s money safe, and the client is nowhere to be found come time for distribution? Does the lawyer keep the money in trust indefinitely? Do the funds become the property of the law firm?

    by Jennifer Meisberger

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  • Considerations When Charging Fixed Fees

    February 10, 2017

    Charging a fixed legal fee
    Lawyers set fees for clients using a variety of arrangements. Charging a fixed fee, a set price for the services the lawyer provides, offers benefits to both you and the client. In addition, fixed fee agreements may reduce the possibility of fee disputes and increase the likelihood of carefully documenting the scope of representation.

    by Jennifer Meisberger

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