Unclaimed and Unidentified Lawyer Trust Account Funds

Unclaimed and Unidentified Lawyer Trust Account Funds

Effective January 1, 2023, the revision to Rule 1.15(h) of the Indiana Rules of Professional Conduct provides a mechanism for Indiana attorneys to remit unclaimed and unidentified lawyer trust account funds to the Foundation in situations where an attorney, law firm, or estate of a deceased attorney (1) winds up in possession of client or third-party funds and the client or third-party cannot be located, despite diligent efforts to locate the rightful owner; or (2) is in possession of funds in a client trust account that cannot be traced back to a particular client.

Rule 1.15(h) provides a simple process for attorneys to dispose of unclaimed and unidentified funds consistent with applicable ethical obligations, while generating additional income for Indiana’s Interest on Lawyers Trust Accounts (IOLTA) Program administered by the Foundation, which supports Indiana’s pro bono and civil legal aid services.

Instructions for remitting unclaimed or unidentified funds are located here.

Instructions for requesting a return of an unclaimed or unidentified funds remittance are located here.

An FAQ on the Unclaimed and Unidentified Lawyer Trust Account Funds process is located here.