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To: aceintx
American Bar Association scheme that forces lawyers to pool their clients' funds into checking accounts and pass on the interest to "public interest" law firms,..

Interest bearing checking accounts? Isn't money in a client's account property of the client?

83 posted on 10/24/2005 7:13:20 AM PDT by Mike Darancette (Mesocons for Rice '08)
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To: Mike Darancette
Interest bearing checking accounts? Isn't money in a client's account property of the client?

Isn't that the real sticking point?

If it was my money held by my lawyer, I'd feel entitled to the interest.

So, the question becomes, why would I not be entitled to it?  Would I have been entitled to any interest earned on the account prior to, in my case, creation of these pooling accounts in 1984 (Texas date)?

87 posted on 10/24/2005 7:19:44 AM PDT by Racehorse (Where your treasure is, there will your heart be also.)
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To: Mike Darancette
Interest bearing checking accounts? Isn't money in a client's account property of the client?

Nope, the lawyers have pushed hard in states around the country for that money to go into their own pockets, wihtout the permission of the clients.

94 posted on 10/24/2005 7:31:06 AM PDT by Rodney King (No, we can't all just get along.)
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