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. 
 
 Back to main menu

  Print This Leo
LEO NumTopicsSummary
0548

print
40-Trust Accounts

A lawyer who cannot determine to whom leftover trust account money should be paid may transfer the money to the lawyer's own account after diligently trying to determine to whom the money is owed and waiting until it is reasonable to conclude that no one will claim the money. [The lawyer should also check any escheat laws.]

Copyright 2000, Thomas E. Spahn