Rule 4 Dissolution of Law Firm or Sale of Law Practice

When a law firm closes, breaks up, or gets sold, the partners still have a job to do. They need to make sure the client trust account records are kept safe and organized, just like Rule 1 requires.

This matters because client money often sits in trust accounts, and those records show who the money belongs to and how it was handled. If a firm shuts down or changes hands, clients shouldn't lose track of their funds or have their financial history disappear. The partners are responsible for setting up a plan to store these records properly, even after the firm no longer exists in its original form.

In short, closing or selling a law practice doesn't erase the duty to protect client financial records. Someone has to keep them safe and accessible, following the same standards that applied when the firm was still operating normally.