It's OK to ask a divorce and custody attorney about a trust account
When you interview an attorney for a divorce or custody case, it's OK to ask how your 'deposit' or 'retainer' payment will be managed. Standard procedure in Illinois should be for the deposit to be placed in the attorney's trust account (called an 'IOLTA' account by attorneys, after the law governing those accounts) -- and then deducted bit-by-bit as the attorney presents you with billing statements and earns the money. At the end of the attorney's work, the excess (unearned) fees are to be refunded to the client.
Some attorneys use the 'advanced payment retainer' method, in which they put the deposit or payments directly into their operating accounts and pay the bills of running their practice -- this is permitted by Illinois Supreme Court rule, as long as the client is given some good reason for not depositing the money to a trust account. Even using the 'advanced payment retainer' method, an attorney must refund any unearned fees -- but it is much more painful, since the money has already been absorbed into the attorney's income-and-expense stream.
I insist on putting all client deposits into my trust account, and then providing the client with a detailed billing statement before any deductions are made. It makes it easy for me to write a refund check if the case ends and we have some trust-account money left over, in the client's name.
You can reach me directly on my cell phone at 312-493-4241. Yes, that is actually my cell #.
- Kevin J.
www.divorce.nu
Some attorneys use the 'advanced payment retainer' method, in which they put the deposit or payments directly into their operating accounts and pay the bills of running their practice -- this is permitted by Illinois Supreme Court rule, as long as the client is given some good reason for not depositing the money to a trust account. Even using the 'advanced payment retainer' method, an attorney must refund any unearned fees -- but it is much more painful, since the money has already been absorbed into the attorney's income-and-expense stream.
I insist on putting all client deposits into my trust account, and then providing the client with a detailed billing statement before any deductions are made. It makes it easy for me to write a refund check if the case ends and we have some trust-account money left over, in the client's name.
You can reach me directly on my cell phone at 312-493-4241. Yes, that is actually my cell #.
- Kevin J.
www.divorce.nu
