What must a lawyer do regarding individual client ledgers?

A lawyer is required to maintain detailed individual client ledgers and provide accountings to ensure transparency and accountability in managing client funds. This obligation stems from the ethical duty to protect client property and to ensure accurate financial tracking of all transactions related to a client’s matter.

By keeping ledgers, a lawyer can provide clear records that outline how client funds are received, held, and disbursed. This not only helps in ensuring compliance with ethical standards, but it also protects the lawyer in case of disputes regarding finances. Rendering accountings is also a crucial practice; when clients request an accounting, the lawyer must be able to provide a clear and accurate record of all financial activities related to their matter.

Other options suggest various levels of record-keeping or sharing that do not align with professional responsibilities. For example, merely keeping ledgers during the case or archiving them immediately afterward would not fulfill the ongoing obligations of accountability and transparency required throughout the duration of the attorney-client relationship and beyond if it involves retaining records for potential future disputes or audits.