Misappropriation of client funds is where many attorneys run afoul of professional conduct rules. Trust accounts, where you hold, and are responsible for, entrusted but unearned client money, deserve special care and monitoring. Use this guide to reconcile your trust account balances.
Client funds are required to be kept separate from the firm operating account(s).
It is highly advisable that you and others in your firm handling trust funds familiarize yourself with these regulations and confirm that everyone in the office complies with these procedures. Specific regulations vary by state, but the common duties are listed below:
Many solo and small firm attorneys struggle with bookkeeping. Read on to be reminded of how important it is and to learn whether outsourcing is a good option for your firm.
