By: WISCONSIN LAW JOURNAL STAFF//June 20, 2023//
By: WISCONSIN LAW JOURNAL STAFF//June 20, 2023//
“Major changes are coming to the regulation of lawyer trust accounts, effective July 1. What to know about the newly amended SCR 20:1.15,” the State Bar of Wisconsin wrote on Facebook Monday.
On March 30, 2023, the Wisconsin Supreme Court issued an order amending the lawyer trust account rule, SCR 20:1.15, removing prohibitions on electronic transactions and providing lawyers greater flexibility in handling client funds, wrote Aviva Kaiser, Timothy Pierce and Travis Stieren.
The newly amended SCR 20:1.15 will become effective July 1, 2023 (2023 Rule) and represents a major change in the regulation of lawyer trust accounts in Wisconsin, the State Bar of Wisconsin article said.
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