We all know mismanaging a trust account can have terrible consequences. However, while it’s discussed in theory, most attorneys receive little or no training on managing a trust account before opening one of their own. Law schools don’t address this enough. All of which begs the question, “Are your trust accounting practices sufficient?”
Our guide, “Trust Accounting Basics”, demonstrates best practices for handling your trust accounting and fiduciary responsibilities for your law firm.
We cover the importance of:
Commingling consequences
Misappropriation and conversion
Duties for trust management & client responsibilities
Common mistakes and much more