LEO: Attorney's Fees - Interest on Prepaid LE Op. 650
Attorney's Fees - Interest on Prepaid Amounts.
January 3, 1985
It is improper for an attorney to enter into an agreement with a client
in which all the funds paid to the law firm for future services will be
placed in an interest-bearing account, and both interest and principal
become the lawyer's property as services are performed. [ DR:2-105(A), (
B), DR:5-101, DR:5-104(A), DR:9-102, LE Op. 186A, LE Op. 186B, ABA
Formal Opinion 348 (July 23, 1982), Connecticut Informal Opinion 81-1,
Maryland Opinion 81-44, Maryland Opinion 81-49]
Committee Opinion January 3, 1985
See also LE Op. 1178.