Trust Accounting Best Practices for Lawyers
Managing your trust accounts can be one of the most challenging and confusing aspects of practicing law. Not only are you responsible for safekeeping your clients’ funds, but you must constantly ensure that your office practices comply with the rules and regulations of your state.
When operating a trust account, there is no room for mistakes because errors could result in some serious consequences. This guide will go over some industry best practices (and provide specific examples!) that will help keep your law firm in compliance. You’ll discover:
The definition of a trust account
How to select the right financial institution
IOTLA compliance basics
Best practices and what to avoid
And much more!
Download Trust Accounting Best Practices for Lawyers today