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DUE NOVEMBER 30TH - Pay your license fees online!


Compliance just got easier!!

Trust Account Certification FAQ

Revised lawyer trust account rules (found in the Wyoming Rules of Professional Conduct) will become effective September 1, 2012. The changes shorten both Rule 1.15 (safekeeping of client property) and Rule 1.15A (the IOLTA rule) and are designed to make the rules clearer and thus more user-friendly while still protecting clients. Most significant for practitioners is the elimination of the need to file an annual "notice of declination" for lawyers who elect not to maintain an IOLTA account. Under the new rules, lawyers must still provide information on the trust account(s) (whether IOLTA or non-IOLTA) as part of their annual Wyoming State Bar membership renewal, but it is up to the lawyer to decide which form of account is the best fit.

IOLTA accounts continue to provide numerous advantages, most notably relieving the lawyer from the burden of having to account for interest on trust account funds, which interest will continue to be paid to the Wyoming State Bar Foundation and used to fund worthy law-related causes.

Out-of-state WSB members take note: The trust account rule changes include an express requirement that all funds coming into a lawyer's hands by virtue of representation requiring WSB membership (i.e., funds arising out of Wyoming cases or other Wyoming legal work) must be deposited in a financial institution located or having an office in Wyoming. This is necessary for enforcement purposes, should a problem arise with the lawyer's handling of a trust account.

If you have questions about the trust account rules, please contact Mark Gifford.

If you have questions about your license fees, please contact Ashlee Rawlinson.

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