I don’t know about you, but I didn’t go to law school to become a banker.[1] However, when you raised your hand to become an attorney, you agreed to abide by a 150-page manual of accounting principles that applies to client trust accounts called the Interest on Lawyers’ Trust Accounts (IOLTA). Read More
By Valerie Silverman Massey
Imagine this scenario: Attorney is retained by Financier to represent Party. Attorney’s client is Party, but Attorney also has a financial relationship with Financier (who may be funding the representation and/or also funding any settlement or judgment). Read More
Nearly all new engagements for legal services should include a written agreement which spells out the terms and scope of the engagement, the fees to be charged and their means of computation if something other than a straight hourly or fixed-fee arrangement, the identity of the client, and any limitations on the engagement. When contingent fees are involved, Business & Professions Code section 6147 imposes a number of requirements, including a written agreement. Read More
By Carole J. Buckner, Senior Counsel, Klinedinst PC Read More
By David C. Carr
As flowers follow spring rain, scandal involving government regulation (or a lack of regulation) inevitably creates more regulation. So it is with the State Bar of California as we enter the third year of Girardi-gate. Read More
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