These summaries were prepared by McGuireWoods LLP lawyer Thomas E. Spahn. They are based on the letter opinions issued by the Virginia State Bar. Any editorial comments reflect Mr. Spahn's current personal views, and not the opinions of the Virginia State Bar, McGuireWoods or its clients. 
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40-Trust Accounts

A lawyer need not open a trust account if the lawyer does not receive any money belonging to clients or any advanced legal fees that have not yet been earned. [Rule 1.15 now applies whenever a lawyer holds money as a fiduciary.]

Copyright 2000, Thomas E. Spahn