MPRE Practice Questions - Multistate Professional Responsibility Examination Exam

A lawyer receives funds belonging to a client as part of a settlement. Under the Model Rules, the lawyer must:

Deposit the funds in the lawyer's personal account and transfer them within 30 days Hold the funds in a separate trust account and promptly notify and deliver the funds to the client Invest the funds for the client's benefit Deduct the legal fees first and then transfer the remainder

Correct Answer:

Hold the funds in a separate trust account and promptly notify and deliver the funds to the client

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