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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38-Fee Splitting

40-Trust Accounts

Because another lawyer who has entered into a fee-split arrangement with a lawyer is a "third person" under ABA Model Rule 1.15's trust account rules, the lawyer receiving a fee that will be split with the other lawyer must: notify the other lawyer of the fee's receipt; hold the money in a trust account until it is appropriate to disburse it; promptly "deliver" any earned fee to the other lawyer; provide a full accounting if the other lawyer asks for one; keep any disputed funds in the trust account until any dispute is resolved.

Copyright 2000, Thomas E. Spahn