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LSDefine

Simple English definitions for legal terms

commingling

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A quick definition of commingling:

Commingling: When someone mixes their money with someone else's money, it's called commingling. This is usually a problem when a person who is supposed to take care of someone else's money, like a lawyer or financial advisor, mixes it with their own money. It's against the rules because it can lead to the loss of the other person's money. It can also be a problem in some states when a married person mixes their own money with their spouse's money, because it can make it harder to divide things up if they get divorced.

A more thorough explanation:

Definition: Commingling is when funds belonging to one party are mixed with funds belonging to another party. This is often seen when a fiduciary improperly mixes their personal funds with funds belonging to a client. This violates ethical rules and can lead to unexpected loss of funds.

Example 1: A lawyer mixes their personal funds with funds belonging to their client. This violates Rule 1.15(a) of the Model Rules of Professional Conduct, which requires lawyers to keep their clients' property separate from their own property. This can lead to the unexpected loss of client funds.

Example 2: In community property states, certain assets acquired during a marriage are viewed as jointly owned by both spouses. If a spouse mixes their separate property with marital property, such as in a joint bank account, they risk forfeiting some of the separate property in the event of a divorce. For example, in California, property acquired during a marriage is presumed to be community property and must be proven otherwise.

Both examples illustrate how commingling can lead to unexpected loss of funds or property. It is important to keep separate property and funds clearly separated to avoid any legal or ethical issues.

commingled goods | commission

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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