Court Business, 1216 COBJ, Vol. 45, No. 12
| Author | Nathan B. Coats, Justice, Monica M. Márquez, Justice. |
Nathan B. Coats, Justice, Monica M. Márquez, Justice.
Colorado Supreme Court Rules Committee
Visit the related court’s website for complete text of rule changes or proposed rule changes issued by the court. Each court’s website includes corresponding forms, which are not printed in Court Business, and versions with highlights of revisions (deletions and additions). Material printed in Court Business appears as submitted by the court and has not been edited by the staff of The Colorado Lawyer.
Colorado Supreme Court Rules Committee
Rule Change 2016(11) Colorado Rules of Professional Conduct
Rule 1.15A. General Duties of Lawyers Regarding Property of Clients and Third Parties
(a)–(d) [NO CHANGE]
COMMENT
[1]–[6] [NO CHANGE]
[7] What constitutes “reasonable efforts,” within the meaning of Colo. RPC 1.15B(k), will depend on whether the lawyer does not know the identity of the owner of certain funds held in a COLTAF account, or the lawyer knows the identity of the owner of the funds but not the owner’s location or the location of a deceased owner’s heirs or personal representative. When the lawyer does not know the identity of the owner of the funds or a deceased owner’s heirs or personal representative, reasonable efforts include an audit of the COLTAF account to determine how and when the funds lost their association to a particular owner or owners, and whether they constitute attorneys’ fees earned by the lawyer or expenses to be reimbursed to the lawyer or a third person. When the lawyer knows the identity but not the location of the owner of the funds or the location of the owner’s heirs or personal representative, reasonable efforts include attempted contact using last known contact information, reviewing the file to identify and contact third parties who may know the location of the owner or the owner’s heirs or personal representative, and conducting internet searches. After making reasonable but unsuccessful efforts to identify and locate the owner of the funds or the owner’s heirs or personal representative, a lawyer’s decision to continue to hold funds in a COLTAF or other trust account, as opposed to remitting the funds to COLTAF, does not relieve the lawyer of the obligation to maintain records pursuant to Rule 1.15D(a)(1)(A) or to determine whether it is appropriate to...
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