February 23, 2024
Nathan Crystal recently drafted an insightful article for his SC Lawyer "Ethics Watch" column offering some good criticism of the recent ABA opinion on trust accounts: "The ABA Sets Tough (and Perhaps Unsound) Standards for Advance Payment of Legal Fees."
Perhaps I'll write more on this later, but for now I'll say that I agree with Nathan that the ABA Opinion 505 is too restrictive. That said, I am not a fan of "nonrefundable" fees.