Sarah Sweeney discusses the joint ethics opinion the Pennsylvania and Philadelphia Bar Associations issued in a Law360 article. This opinion was issued as a clarification to a previous PBA opinion from 1995, allowing Pennsylvania attorneys to deposit advance fees into their operating accounts as long as the client consents. Sarah commented on the confusion attorneys previously had on this opinion. “The [two committees] worked together in an effort to provide some clarity on the proper handling of legal fees paid at the outset of an engagement.” She later stated, “specifically, the Opinion distinguishes fees that are earned upon receipt from fees that are simply paid in advance, and concludes that the former may be deposited in the attorney’s operating account.”

To read the full article, click here.