Colorado Lawyer Trust Account Foundation Procedures re ...

Colorado Lawyer Trust Account Foundation Procedures re Remittance of Unclaimed COLTAF Funds

Procedures for remittance to COLTAF of unclaimed funds held in a COLTAF account:

1. Complete COLTAF's Unclaimed Funds Remittance Report (attached).

2. Send a check made payable to COLTAF in the amount of the unclaimed funds, together with the completed Unclaimed Funds Remittance Report, to COLTAF, 1120 Lincoln Street, #701, Denver, CO 80203.

3. Lawyers remitting unclaimed funds to COLTAF must keep a record of that remittance pursuant to Colorado Rule of Professional Conduct 1.15D(a)(1)(C).

Procedures for the disposition of unclaimed funds held in the COLTAF account of a deceased lawyer:

1. Reasonable efforts should be made to identify and locate the owners of all funds held in the COLTAF account of a deceased lawyer and to return those funds to the owners. Reasonable efforts include an audit of the COLTAF account to determine to whom all funds belong; attempted contact with owners using last known contact information; review of files to identify and contact third parties who may have information regarding the location of owners; and internet searches.

2. If, after reasonable efforts are made, the identity and the location of an owner cannot be determined, funds may be remitted to COLTAF in accordance with the procedures set forth above.

COLTAF Unclaimed COLTAF Funds Remittance Report

Unclaimed COLTAF Funds are funds held in a COLTAF account with respect to which, after reasonable efforts, the owner cannot be identified and located. See Colorado Rule of Professional Conduct 1.15B(k) and Comment [7].

Date: _________________ Total unclaimed COLTAF funds remitted: ___________________ Name of remitting lawyer or law firm: ______________________________________________ Mailing address: _______________________________________________________________ Phone: __________________________ COLTAF Acct. # _____________________________ Name of person preparing form: ___________________________________________________ Email address: _________________________________________________________________

Portion of funds, if any, with respect to which the owner cannot be identified: ______________ Length of time, if known, that these funds have been held in your COLTAF account: _________

Portion of funds, if any, with respect to which the owner(s) cannot be located: ______________ For the missing owner(s) of all or each portion of the funds, provide the following information:

Owner

#1 #2 #3 #4 #5

Amount belonging to this owner

Date of last contact with this owner

Colorado Rule of Professional Conduct 1.15B(k) provides that "[i]f, after remitting unclaimed funds to COLTAF, the lawyer determines both the identity and the location of the owner or the owner's heirs or personal representative, the lawyer shall request a refund for the benefit of the owner or the owner's estate, in accordance with [COLTAF's] written procedures," which are available on the COLTAF website and also upon request.

Colorado Rule of Professional Conduct 1.15D(a)(1)(C) requires a lawyer to maintain the following information with respect to unclaimed funds remitted to COLTAF: the name and last known address of the owner of the funds, if the owner of the funds is known; the date of death of a deceased owner if the owner of the funds is known; the efforts made to identify and locate the owner of the funds or a deceased owner's heirs or personal representative; the amount of the funds remitted; the period of time during which the funds were held in the lawyer's or law firm's COLTAF account; and the date the funds were remitted to COLTAF.

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