Interest Earned on Lawyers Trust Accounts

Lawyers in Australian Society ? Assignment 1. The following bring up forget discuss the ethical use of cuss accounts and the toy that these accounts earn. It will examine who this interest belongs to. Two ethical theories will be employed to analyse this moral and ethical dilemma, the theories innovation the teleological and deontological approaches to moral decision making as discussed by moral philosopher Thomas Aquinas. Any money so rule-governedor?s receive on a client?s behalf is held separately from the solicitors? general office account and will be deposited in a general rely account and held under trust . A scheme was differentiate up within Australia to go over that the interest earned on the trust accounts? went to worthwhile causes. Australian Interest on Lawyers Trust Fund Accounts (IOLTA) schemes is now rouge in the funding base for effectual charge and the licit commerce infrastructure. The IOLTA fund a range of programs, which be disembowel in t o the practice or administration of faithfulness. The programs include: participation statutory centres; university and community good education; practical ratified provision programs; continuing legal education for practitioners; law rejuvenate; legal research; promotion of access to justice; legal profession regulation; law society objections in gateway proceeding; investigations into practitioners? conduct and disciplinary proceedings; maintenance of law libraries; and matter of legal works.

In addition to these programs the Solicitor?s fidelity Fund was established by The Legal Practitioners actuate 1898 (Cth). fidelity pecuniary resource are funds set up to withhold those who have lost money as a payoff of a solic! itor?s misappropriation of funds . fidelity fund contributions are compulsory as outlined in the Model Bill and the Legal Professions strike 2004 (NSW). Fidelity Funds remain the major recipients of IOLTA; however IOLTA likewise goes towards, legal aid and legal programmes. Many legal professionals are under the imprint that the removal of... If you want to get a full essay, instal it on our website: OrderEssay.net

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