^PA   IOLTA ^BOARD

Helping to Secure Equal Access to Justice

HANDLING FUNDS OF OTHERS

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The IOLTA Board expresses its gratitude to a drafting committee for the effort and expertise they generously donated in drafting this pamphlet titled "Fiduciary Requirements For Lawyers In Pennsylvania Handling Property of Clients and Others." The following lawyers comprised the drafting committee:

Robert H. Davis, Jr., Esq. (Harrisburg), Chair; Samuel D. Miller, III, Esq. (Norristown); and Edwin R. Frownfelter, Esq. (Lemoyne).

In addition, the Board thanks Elyse E. Rogers, Esq. of the firm Mette, Evans & Woodside (Harrisburg), and Brian L. Melgary, a student at the Dickinson School of Law (Carlisle), for their research and drafting contribution to this pamphlet. Finally, the Board expresses its appreciation to the Committee on Professional Discipline of the Association of the Bar of the City of New York for its kind permission to use portions of its pamphlet Other People's Money: Procedures and Pitfalls in Handling Client Funds (Michael Garrett, drafter), on which this pamphlet is based.

Preface

What Funds are Subject to RPC 1.15

The Basic Rules

Duty to Hold Separate

Duty of Notice

Duty of Recordkeeping

Required Records

Recordkeeping Procedures

Computerized Recordkeeping

Records Retention

Duty to Account

Requirement of Delivery

Selecting a Financial Institution

Mandatory Overdraft Notification

IOLTA

Conclusion