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Changes in Ethical Rules by CA Supreme Court enacted 5/10/18
Never thought of that. If they are earned at filing, I dont see the
transfer being improper because the funds belong to the attorney, not the
client and therefore not the estate.
On Fri, May 18, 2018, 11:12 AM mitnicklaw@aol.com [cdcbaa] wrote:
>
>
> Under the prior rules, advance payment for costs, but not attorney fees,
> were required to be deposited into the lawyer-client trust account.
> However, advance fees deposits must also be deposited into the client trust
> account, creating a possible timing issue as to being paid before filing a
> case. My concern is that if funds from the debtor remain in the trust
> account at the time of the filing, technically the retainer would be
> property of the estate, Even if a trust account check is cut and deposited
> the same day, it would probably not clear in time and could be a
> postpetition transfer.
>
> Any thoughts?
>
> Eric
>
>
> Law Office of Eric Alan Mitnick
> 21515 Hawthorne Boulevard, Suite 1080
> Torrance, California 90503
> Telephone: (310) 792-5864
> Facsimile: (310) 347-4353
> Email: MitnickLaw@aol.com, MitnickLaw@gmail.com
>
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Never thought of that. If they are earned at filing, I dont see the transfer being improper because the funds belong to the attorney, not the client and therefore not the estate.On Fri, May 18, 2018, 11:12 AM mitnicklaw@aol.com [cdcbaa] <cdcbaa@yahoogroups.com> wrote:
The post was migrated from Yahoo.
Under the prior rules, advance payment for costs, but not attorney fees, were required to be deposited into the lawyer-client trust account. However, advance fees deposits must also be deposited into the client trust account, creating a possible timing issue as to being paid before filing a case. My concern is that if funds from the debtor remain in the trust account at the time of the filing, technically the retainer would be property of the estate, Even if a trust account check is cut and deposited the same day, it would probably not clear in time and could be a postpetition transfer.
Any thoughts?
Eric
Law Office of Eric Alan Mitnick
21515 Hawthorne Boulevard, Suite 1080
Torrance, California 90503
Telephone: (310) 792-5864
Facsimile: (310) 347-4353
Email: MitnickLaw@aol.com,MitnickLaw@gmail.com
Although this email and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by the sender for any loss or damage arising in any way from its use.
The information contained in this email message and any attached files may be privileged, confidential and protected from disclosure. If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited. If you think that you have received this email message in error, please notify the sender by reply email, and delete the email message you received and all of the attached files.
***NOTICE OF EX PARTE HEARINGS WILL NOT BE ACCEPTED BY EMAIL***
Under the prior rules, advance payment for costs, but not attorney fees, were required to be deposited into the lawyer-client trust account. However, advance fees deposits must also be deposited into the client trust account, creating a possible timing issue as to being paid before filing a case. My concern is that if funds from the debtor remain in the trust account at the time of the filing, technically the retainer would be property of the estate, Even if a trust account check is cut and deposited the same day, it would probably not clear in time and could be a postpetition transfer. Any thoughts? Eric Law Office of Eric Alan Mitnick
21515 Hawthorne Boulevard, Suite 1080
Torrance, California 90503
Telephone: (310) 792-5864Facsimile: (310) 347-4353
Email: MitnickLaw@aol.com, MitnickLaw@gmail.com
Although this email and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by the sender for any loss or damage arising in any way from its use. The information contained in this email message and any attached files may be privileged, confidential and protected from disclosure. If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited. If you think that you have received this email message in error, please notify the sender by reply email, and delete the email message you received and all of the attached files.
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***NOTICE OF EX PARTE HEARINGS WILL NOT BE ACCEPTED BY EMAIL***
The post was migrated from Yahoo.