How to Keep It Clean with the Green: Trust Accounting Do's and Don'ts

Trust account problems remain one of the top reasons attorneys are disciplined in the US. Certainly, there have been and will continue to be attorneys whose trust accounting activities are egregious and, in some situations, even criminal. However, this doesn't account for all the problems. Far too often, an attorney was less than diligent about maintaining proper and appropriate financial practices in the office and things simply got out of hand. This program will start with a discussion of trust accounting basics, address common missteps lawyers make, and share best practices to help attorneys stay on the right path.

Learning Objectives: 

1. Explain the fundamental requirements for setting up and properly maintaining a client trust account in compliance with ethical and legal obligations
2. Recognize the critical importance of attorney oversight in managing client funds and property, and identify practical steps to ensure appropriate supervision
3. Identify common errors attorneys make in handling client trust accounts and understand how to prevent these missteps
4. Describe how misunderstandings of banking terms and practices can negatively impact trust account management, and apply strategies to avoid these pitfalls
5. Demonstrate awareness of the risks associated with wire fraud and implement safeguards to protect against becoming a victim