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STATE OF MINNESOTA IN COURT OF APPEALS A07-2165 Thomas B. Olson & Associates, P.A., Appellant, vs. Leffert, Jay & Polglaze, P.A., et al., Respondents. Filed October 21, 2008 Affirmed in part, reversed in part, and remanded Johnson, Judge Hennepin County District Court File No. 27-CV-06-16104 Thomas B. Olson, Matthew H. Jones, Olson & Lucas, P.A., One Corporate Center I, 7401 Metro Boulevard, Suite 575, Edina, MN 55439; and Richard J. Sheehan, Harvey & Sheehan, P.A., 7401 Metro Boulevard, Suite 555, Minneapolis, MN 55439-3033 (for appellant) Paul C. Peterson, William L. Davidson, Lind, Jensen, Sullivan & Peterson, P.A., 150 South Fifth Street, Suite 1700, Minneapolis, MN 55402 (for respondents) Considered and decided by Ross, Presiding Judge; Johnson, Judge; and Huspeni, Judge.* SYLLABUS 1. A client's instructions to an attorney to deposit settlement proceeds into the

attorney's trust account for safekeeping pending resolution of a third party's lien against the settlement proceeds may create a trust that imposes fiduciary duties on the attorney toward the third party for whose benefit the trust was established. Retired judge of the Minnesota Court of Appeals, serving by appointment pursuant to Minn. Const. art. VI,

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