What is the name of your state (only U.S. law)? Florida
Within my closing statement, my attorney from a huge lawfirm in Florida says this...
"Further, the undersigned hereby authorizes and gives power
of attorney to FLORIDA ACME LAW FIRM to endorse my (our) name(s) for the purpose of depositing settlement drafts
into the attorney's trust account for disbursement in accordance with the foregoing closing statement.
Further, the undersigned has been informed and understands that standard attorney trust accounts
have coverage through the Federal Deposit Insurance Corporation (FDIC) limited to $250,000.00 after
January 1, 2013. As such, I have authorized my attorneys to deposit the above recovered gross
settlement/verdict amounts into a treasury bill money market account which THE FLORIDA ACME LAW FIRM maintains as an alternate trust account. I understand that this alternate trust
account is not insured by the FDIC for any amount; however, the account purchases Treasury Bills
issued by the United States government which are widely considered to be the safest investments in
the world because the United States government backs them. I also understand that there is effectively
no interest earned on the funds when they are deposited in the alternate (T-Bill Money Market) account.
CAN YOU BELIEVE THIS STUFF? MY QUESTION IS ... DO I HAVE THE RIGHT TO INSTRUCT MY ATTORNEY THAT I WILL NOT SIGN THIS CLOSING STATEMENT UNTIL IT STATES THE SETTLEMENT MONEY WILL BE DEPOSITED INTO HIS STANDARD FDIC INSURED TRUST ACCOUNT.
( the reason being, TREASURY BILLS ARE BOUGHT FOR LESS THAN FACE VALUE, THEN AFTER MATURITY DATE IS REACHED ARE WORTH FACE VALUE. NO INTREST IS MADE, BUT MONEY IS MADE. LAWYERS CAN NOT MAKE INTREST ON ATTORNEY/ CLIENT ACCOUNTS. ITS ILLEGAL.
MATURITY DATES RANGE FROM
3 WEEKS TO ONE YEAR... NOW I UNDERSTAND WHY THEY SAID IT WOULD TAKE 120 DAYS TO GET MY MONEY. AS THIRTEEN WEEKS IS ONE OF THE MATURITY DATES!!!!
THANK YOU VERY MUCH FOR ANY HELP!
Harvey Lebowitz JR. ( alias)
Within my closing statement, my attorney from a huge lawfirm in Florida says this...
"Further, the undersigned hereby authorizes and gives power
of attorney to FLORIDA ACME LAW FIRM to endorse my (our) name(s) for the purpose of depositing settlement drafts
into the attorney's trust account for disbursement in accordance with the foregoing closing statement.
Further, the undersigned has been informed and understands that standard attorney trust accounts
have coverage through the Federal Deposit Insurance Corporation (FDIC) limited to $250,000.00 after
January 1, 2013. As such, I have authorized my attorneys to deposit the above recovered gross
settlement/verdict amounts into a treasury bill money market account which THE FLORIDA ACME LAW FIRM maintains as an alternate trust account. I understand that this alternate trust
account is not insured by the FDIC for any amount; however, the account purchases Treasury Bills
issued by the United States government which are widely considered to be the safest investments in
the world because the United States government backs them. I also understand that there is effectively
no interest earned on the funds when they are deposited in the alternate (T-Bill Money Market) account.
CAN YOU BELIEVE THIS STUFF? MY QUESTION IS ... DO I HAVE THE RIGHT TO INSTRUCT MY ATTORNEY THAT I WILL NOT SIGN THIS CLOSING STATEMENT UNTIL IT STATES THE SETTLEMENT MONEY WILL BE DEPOSITED INTO HIS STANDARD FDIC INSURED TRUST ACCOUNT.
( the reason being, TREASURY BILLS ARE BOUGHT FOR LESS THAN FACE VALUE, THEN AFTER MATURITY DATE IS REACHED ARE WORTH FACE VALUE. NO INTREST IS MADE, BUT MONEY IS MADE. LAWYERS CAN NOT MAKE INTREST ON ATTORNEY/ CLIENT ACCOUNTS. ITS ILLEGAL.
MATURITY DATES RANGE FROM
3 WEEKS TO ONE YEAR... NOW I UNDERSTAND WHY THEY SAID IT WOULD TAKE 120 DAYS TO GET MY MONEY. AS THIRTEEN WEEKS IS ONE OF THE MATURITY DATES!!!!
THANK YOU VERY MUCH FOR ANY HELP!
Harvey Lebowitz JR. ( alias)