Trust Accounting Basics
Guide for Small Law Firm Attorneys
We all know mismanaging a trust account can have terrible consequences. However, while it seems to be discussed in theory, most attorneys receive little or no training on how to manage 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 your 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