USA PATRIOT Act and the Gatekeeper Initiative:
Surprising Implications for Transactional Lawyers
Probate and Property, September/October 2002
By Kevin L. Shepherd
Americans are asking: How will we fight and win this war? We will direct every resource at our command—every means of diplomacy, every tool of intelligence, every instrument of law enforcement, every financial influence, and every necessary weapon of war—to the disruption and to the defeat of the global terror network.
—President George W. Bush, Address to the Joint Session of Congress and the Nation, September 20, 2001.
Michelle Lynne is a successful and busy (albeit fictitious) real estate lawyer in Wichita, Kansas. Her thriving practice often involves the formation of limited liability companies (LLCs) and other entities to facilitate her clients’ business needs. Lynne’s activities include assisting her clients in opening bank accounts for the newly formed entities, filing the appropriate formation documentation with the state authorities, and advising her clients on entity selection and other related issues. Lynne also handles the closings for her clients’ real estate transactions, often serving as escrow agent or as the title closing officer. A sole practitioner with a number of legal assistants, she provides legal advice embracing a wide realm of business and tax law.