Florida Bar rule change re Trust Accounts – Rule 5-1.2(c) – Effective June 1, 2014
Thank you to Michelle Ridge for the following information:
Please note that the Florida Bar has revised Rule 5-1.2(c) and effective June 1st all firms, with the exception of sole practitioners, must place in writing their “Trust Account Plan”. This plan is required to be disseminated to each lawyer in the firm. The reasoning behind this new process is to ensure that every lawyer in every firm has a clear understanding of who and how the trust account is managed.
Additionally, this plan must be updated and re-issued to each lawyer in the firm whenever there are material changes to the plan.
The Florida Bar has provided guides for the forms. The article was originally posted by the Florida Bar on May 1st and can be located at http://www.floridabar.org/