Attorneys routinely receive client funds to be held in trust for future use.
If the amount is large or the funds are to be held for a long period of time, the attorney must place these monies at interest for the benefit of the client. However, in the case of amounts that are small or are to be held for a short time, it is impractical to establish separate interest bearing accounts for individual clients. It is similar to programs developed in 49 states, the Canadian provinces and Australia. They were held in non-interest bearing checking accounts separate and apart from all other funds belonging to the attorney. This is a discretionary decision which Maine attorneys have been making for as long as they have had custody of their client's funds.