Re: Interest on Retainer Fee Money

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Suppose by large sum you meant 100K and this amount sat in the
trust account for a year. Some checking and most saving accounts
earn 0.02% interests. I am no good in math (or anything else for
that matter). Can you calculate the interest earned in a year?

On 4/13/10, Marvin Straub wrote:
> Hey, if the supreme court
> or bar association says it's
> their money, it's their money.
> What you going to do, go to
> war with them. No way you would
> win that battle. They make
> the law. Whatever they say the
> law is, it is. They have the
> right by eminent domain to take
> whatever they want and it's tough
> luck for you, AA. Sorry, but that's
> why we all want to become lawyers
> and judges. We can take whatever
> we please, and it will all be
> legal. Sorry, friend.
>
> On 4/13/10, AA wrote:
>> I paid my attorney a large
>>> retainer fee and later dismissed
>>> him for inaction. He paid me back
>>> my retainer fee, but refused to pay
>>> any interest--even though he said
>>> my money had been drawing interest
>>> while he held it as a retainer fee.
>>> When I inquired why I did not get
>>> the interest, since it was my money
>>> that earned it, he said that by
>>> law the interest had to be paid
>>> to the suprme court. That's wrong.
>>> Interest earned on money belongs to
>>> the one whose money it is that earns
>>> the interest. This is stealing by
>>> the bar association, as I see it.
>>> I am going to look for me a lawyer
>>> to see if he can't get my money back
>>> from the supreme court. Has anybody
>>> else had this problem happen to them?