Colorado Supreme Court

Office of Attorney Regulation Counsel

Promoting Professionalism. Protecting the Public.

Trust Account Manual

Whenever a lawyer holds the property of a client or a third party, the lawyer must keep that property in a separate trust account, in accordance with the Rules of Professional Conduct.  The most important rules relating to financial accounts for Colorado lawyers are Colo. RPC 1.15A – 1.15E. 

Colo. RPC 1.15A -1.15E covers many topics, including who must have a trust account, disputes over funds held in trust, service charges on the account, and bookkeeping requirements.  Every licensed lawyer in private practice or who is otherwise is required to have trust account should read and know the requirements of these rules, which are located in the Colorado Revised Statutes (Colorado Court Rules Book 1).

Introduction

Basic Requirements for Trust Accounts

Lawyer’s Basic Obligations Re: The Trust Account

Interest Earned on Funds in a Trust Account

Commingling

Advanced Fees, Costs

Depositing and Withdrawing Funds from Trust Accounts

Disputes Over Funds in a Trust Account

Use of Credit Cards for Payments by Clients of Advanced Retainers, Flat Fees or Earned Fees

Required Accounting Records

Delegation of Trust Account Duties

Pointers on Everyday Trust Account Management

The Problem of the Missing Client For Whom Lawyer Has Money in Trust Account