Crucial Exams

Multistate Professional Responsibility Exam Practice Question

Attorney Taylor receives a $25,000 advance from a client to cover anticipated legal expenses. To manage these funds in accordance with professional responsibility requirements, what should Attorney Taylor do?

  • Store the funds in a separate account designated for client monies to maintain clear separation from personal or business accounts.

  • Deposit the funds into the law firm's main operating account and track them as client funds.

  • Use the advance to cover immediate case expenses and replenish the account as needed.

  • Transfer the funds to a personal savings account until they are required for legal fees.

Multistate Professional Responsibility Exam
Safekeeping funds and other property
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