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  #1  
Old 05-24-2007, 10:46 PM
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Join Date: May 2007
Posts: 2
Cool

Having cake and eating it too ?


What is the name of your state? Delaware
Action was in Los Angeles County.
Divorce and Property Settlement.
A large amount (for me) was held in an escrow account under my attorney's control.
A great deal of time was subsequently wasted by said attorney by being non-communicative and unavailable.
Attorney has, to date, retained interest on the account.
Amount 150K plus. Time interval 1 year plus.
Is this legal in LACO and another installment of 'learning more about the way it is in the big bad world' or are they just hoping I won't know any better ?
  #2  
Old 05-25-2007, 02:29 PM
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Join Date: Oct 2006
Location: Northfield, Minnesota
Posts: 305
The interest from your attorney's trust account probably goes to the state. The account is called an IOLTA account. The funds raised from everyone's interest goes to help fund legal aid for the poor. See [url]http://www.delawarebarfoundation.org/docs/FY2008GrantPkg.doc[/url]

I take it your matter is over and you are not appealing anything? Demand in writing that your attorney remit the proceeds of your dissolution settlement to you. If there are still post-trial motions, appeals, or other issues going on, your attorney may be holding on to that money to secure your fees. Check your retainer agreement.
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  #3  
Old 05-25-2007, 05:06 PM
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Join Date: May 2007
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Thank you for the courtesy of your reply. I read the document you suggested.
I believe the pertinent sentence is on the first page as the rest of the document describes
obtaining grants from the fund. That sentence is 'The fund is comprised of interest accruing on lawyers' aggregated escrow accounts that contain client deposits which are small in amount or held for a short period of time. ' I think that 150,000 would probably
exceed any reasonable interpretation of a small amount and one year plus would exceed the short period of time. The matter is under the jurisdiction of a Los Angeles county court with representation by a Los Angeles county attorney which is why I was hoping for a pointer to where I could find out about the situation there. Thanks again for your pointer
to the appropriate Delaware info. Who knows what the future holds. I have received the appropriate distribution. This just concerns the interest after such a long set of delaying tactics. There is much more entertaining detail to the story if you are interested but this is probably not the place for it.
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