NYSBA's Book of the Month!

NYSBA's Book of the Month!

Escrow AccountsSince its original publication more than 20 years ago, Attorney Escrow Accounts: Rules, Regulations and Related Topics has become the go-to source for information and guidance on attorney escrow in New York.

Now in its fifth edition, Attorney Escrow Accounts continues to be an important reference for both newly admitted and seasoned attorneys thanks to its extensive discussion of the legal and ethical issues attorneys encounter as they handle client funds.

The Fifth Edition revises and updates coverage of handling escrow funds, escrow agreements, IOLA accounts, and the Lawyers’ Fund for Client Protection of the State of New York.

This publication is a must-have for every attorney who practices in New York State. Purchase now to get yours!

When purchasing this title add coupon code ATTORNEYESCROWDISCOUNT to receive $15 off the purchase price.

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Good instructional materials on opening and maintaining escrow accounts are indeed rare. However, in the pages within, the editors and authors of this, the fifth edition of Attorney Escrow Accounts: Rules, Regulations and Related Topics, provide an excellent update to a publication that over the years has become aptly referred to as “Escrow Accounts in New York 101.” Since its original publication in 2001, it has provided important “go to” information and guidance for practitioners in New York and beyond.

Among the full update and revision of the previous edition is a new chapter, Chapter One, How to Open and Manage Escrow Accounts. It provides the reader with a practical tutorial covering the fundamentals of the guidance appearing throughout the book of how and where to set up an IOLA account, the bookkeeping requirements for properly maintaining an escrow account, some practical examples of the steps to take when you have received various types of escrow funds and the steps to be taken upon the death of the sole owner of an IOLA account. The revised Appendix contains a recent report of The Lawyers’ Fund for Client Protection and the Fund’s updated instructional guide titled A Practical Guide to Attorney Trust Accounts and Recordkeeping.

A large number of the cases that come before our Attorney Grievance Committees are escrow account matters, and a review of the attorney discipline cases reported in the official N Y Appellate Division Reports will confirm that the failure to understand the detailed technical rules and regulations will not be a legitimate defense when charged with mishandling an escrow account.

The editors, authors and the New York State Bar Association should be proud of this, the latest edition of such a valuable and well-respected publication.

Edward O. Spain
Retired Associate Justice
Appellate Division, Third Department