Trust Accounts

From Our Lending Library
The ABA Guide to Lawyer Trust Accounts

by Jay Foonberg

Lending Library Number: 1

Most lawyers learn in law school ethics class that the quickest route to disbarment is to "commingle" their funds with client trust funds. Unfortunately, many law schools don't define commingling or give practical guidance. But most trust account problems can be avoided by following some simple rules. Lawyers must learn the stringent ethics rules that apply to setting up client trust accounts, keeping appropriate records for those accounts and properly reporting the disbursement of the funds to their clients. This is a complete guide to policies and procedures that lawyers must follow.