Pennsylvania modernizes ethical rules for lawyers who act as fiduciaries

As Neil Hendershot of the PA Elder, Estate & Fiduciary Law Blog reports,

On September 4, 2008, the Pennsylvania Supreme Court issued an Order, with Annexed Rule Changes, amending Rule 221 of the Pennsylvania Rules of Disciplinary Enforcement, and also Rule 1.15 of the Pennsylvania Rules of Professional Conduct, regarding, respectively, “Funds of clients and third persons” and “Safekeeping property,” as both affect lawyers acting as fiduciaries.

For a comprehensive discussion of these news rules, see Neil’s discussion entitled PA Ethical Rules for Lawyers as Fiduciaries (Sept. 19, 2008).