Wisconsin Lawyer: OLR reminds law firms to file annual certificate to meet trust account requirement; deadline was July 1:

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July 01, 2007

OLR reminds law firms to file annual certificate to meet trust account requirement; deadline was July 1

SCR 20:1.15(i) requires lawyers to annually certify that they are complying with trust account recordkeeping requirements. Law firms where there are two or more lawyers who have no authority to oversee or manage the firm's trust or fiduciary account(s) should file one certificate on behalf of the lawyers in the firm who are required to file a certificate (SCR 20:1.15(i)(3)).

As of late June, few law firms have met this trust account requirement by filing a certificate of compliance with the State Bar. This certificate should have accompanied the payment of annual State Bar dues and court assessments which was due on July 1. If your firm has not yet filed the appropriate certificate, please do so no later than Aug. 15, 2007. The law firm certificate is available on the Office of Lawyer Regulation's Web site, at www.wicourts.gov/services/attorney/trust.htm. Solo practitioners should complete the certificate on the back of the State Bar dues statement. For additional questions, contact OLR at (877) 315-6941, ext. 2, or (608) 261-8296.

Wisconsin Lawyer