When: January 25, 2024, 12:00 p.m. – 1:15 p.m.
Where: Online – Zoom
What: Lunch and Learn: Understanding Client Fees, Retainers & Trust Accounts Under Amended Rules 1.5 & 1.15

This session addressed lawyers’ duties when accepting payments from clients, including for retainers and other fees, as well as safeguarding client funds in client trust accounts. The presenters highlighted the 2023 amendments to Rules of Professional Conduct 1.5 and 1.15A – 1.15C. offered practical guidance on issues including the handling of client fees, what types of funds must be placed in a client trust account, using an IOLTA account, keeping required trust account records, and employing best practices and trust account management to ensure client funds are protected and lawyers stay out of trouble.

1.25 hours of approved MCLE credit, including 1.25 hours of professional responsibility MCLE credit.

Speakers:

Mary Andreoni, Attorney Registration & Disciplinary Commission, Ethics Education Counsel
David Holtermann, Lawyers Trust Fund of Illinois, General Counsel

Handouts:

• ISBA Mutual Essentials of Trust Accounting – IOLTA and Beyond
• IOLTA Trust Accounts Lawyers Trust Fund of Illinois