LEO: Legal Fees - Interest on Escrow  LE Op. 748

 

Legal Fees - Interest on Escrow Accounts

Accounting Requirements.

 

December 30, 1985

 

It is not improper for an attorney, with his client's consent, to place

his client's funds in an interest bearing account and to apply interest

earned on that account to the attorney's fees. The attorney must, of

course, comply with DR:9-102(D) as to record keeping, accounting,

clerical and administrative procedures and the payment of fees, costs or

expenses incident thereto. [ DR:9-102(D) and (E)]

 

Committee Opinion December 30, 1985