The attorney has the obligation to make sure that funds he or she is holding that rightfully belong to a client or third person get to that client or third person in a timely manner. The attorney must keep a list of all the checks that are outstanding from month to month. This step is also essential to a proper reconciliation. If a check is not cashed within sixty days of its disbursement, it is the obligation of the attorney to take all reasonable steps to determine who holds an interest in the to-date uncashed check. The attorney shall then remit the funds to the appropriate individuals or entities. If, after due diligence, the attorney is unable to locate the interest-holder, the funds should be earmarked to escheat to the state after the completion of the statutory waiting period. |
Checks outstanding over six months