Opinion: 1426
Year Issued: 1991
RPC(s): RPC 1.14
Subject: Trust account; deposit of funds in excess of limit for federal insurance

Your inquiry concerns the appropriate manner to handle trust funds for a single client where the amount exceeds the federally insured limit, currently $100,000. The committee is of the opinion that RPC 1.14 would permit the lawyer to deposit those funds into more than one trust account, but that the Rule does not require that every dollar in trust be insured.

Advisory Opinions are provided for the education of the Bar and reflect the opinion of the Committee on Professional Ethics (CPE) or its predecessor, the Rules of Professional Conduct Committee. Advisory Opinions issued by the CPE are distinguished from earlier RPC Committee opinions by a numbering format which includes the year followed by a sequential number. Advisory Opinions are provided pursuant to the authorization granted by the Board of Governors, but are not individually approved by the Board and do not reflect the official position of the Bar association. Laws other than the Washington State Rules of Professional Conduct may apply to the inquiry. The Committee's answer does not include or opine about any other applicable law other than the meaning of the Rules of Professional Conduct.