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3 Disciplinary L. & Proc. Advance Sheets 1 (1979)

handle is hein.journals/dislwpr3 and id is 1 raw text is: V 1w J Case Summaries FIDUCIARY DUTIES MORAL TURPITUDE TRUST FUNDS A lawyer was appointed successor trustee of a fund in which he and his sisters were remainder persons. Acting as trustee, the lawyer accomplished liquidation of the assets held in trust and deposited them in his attorney's trust account. Subsequently, the lawyer without consent used the funds in a mining operation that failed; the funds were lost. When the sisters inquired as to possible reimbursement from the clients'security fund, the disciplinary agency instituted an inquiry and filed charges. The respondent agreed that although moral turpitude was involved in his diversion of funds, an attorney-client relationship did not exist between him and his sisters. The court found that the respondent failed to fulfill his fiduciary responsibilities to his sisters, and misused and abused his attorney trust account. The court stated, In no fashion can the personal invasion of the funds of others deposited in such an account be condoned, justified, or rationalized, whatever the personal urgency of the moment may appear to be, or however faithful to his Editors: M. L. Proctor and Herbert M. Rosenthal; Contributing Editors: R. Walter Bachman, Jr. (Northwestern), Mary M. Conrad (Northeastern). William W. Gilbert (Pacific Mountain), John W. Herron (Atlantic), M. L. Proctor (Federal Appellate Courts), Robin Alexander Smith (Federal District Courts), Ronald W. Stovitz (Pacific Coastal), John A. Weiss (Southern), Leslie G. Whitmer (Southwestern), and James R. Wrenn. Jr. (Southeastern); ABA Press Production Supervisor: Gretta Spier. Published monthly by the National Center for Professional Responsibility and the Standing Committee on Professional Discipline of the American Bar Association. Address all correspondence to Editor, Disciplinary Law and Procedure Advance Sheets, National Center for Profes. sional Responsibility, American Bar Association, 77 South Wacker Drive, Chicago, Illinois 60606, telephone (312) 621-9250. Individual copies $2.50 per issue; subscription $24.00 per calendar year; bulk subscriptions: 5-20 subscriptions to one address $18.00 for each subscription per year, 21 or more subscriptions to one address $9.00 for each subscription per year; microfiche copies $1.00 per issue. Included in subscription to the Disciplinary Law and Procedure Research System. Four weeks' notice required for change of address. Copyright @ 1979 National Center for Professional Responsibility and American Bar Association. All rights reserved to copyright owner including rights to reproduce or distribute. Volume 3, Number 1 January, 1979

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