The Escheatment Process and Other Misunderstandings

Description

This session will provide an overview of the process of escheating unclaimed funds remaining in an attorney’s trust account to the state, along with clarification of some common misunderstandings as demonstrated by Fund Members.  Misunderstandings include who can sign policies and commitments, proper names and entities for Fund Member law firms, the process to follow when opening a new trust account, etc.  

  • Understand the process of escheatment to ensure compliance with the law.
  • Understand the laws and bar rules that govern entity selection and naming conventions for law firms.
  • Review and clear up processes and procedures misunderstood by many.

Presenter(s)

Margaret A. “Peggy” Williams

Senior Manager, Risk Analysis & Member Compliance, The Fund

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Margaret A. (Peggy) Williams, Sr. Manager Risk Analysis and Member Compliance, manages The Fund’s Risk Management and Member and Agent Services Departments.  She received her undergraduate degree from Florida State University and her J.D. degree from the University of Florida College of Law.  Ms. Williams has worked for The Fund since 1991 and joined The Fund’s legal staff in 2000 as claims counsel.  She has managed the Risk Management Department since 2005 and is co-editor of The Fund’s monthly publication, The Fund Concept.  Ms. Williams is an at-large member of The Florida Bar’s Real Property, Probate and Trust Law Executive Council, and serves on several of its committees.  She is a member of the Florida Land Title Association and has served on a Florida Bar Grievance Committee for the 9th Circuit.  

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