New Jersey Attorney Trust and Business Accounting and Avoiding the Risks of Disbarment and Other Discipline for Co-mingling and Misappropriation of Entrusted Funds

• 1 Who must maintain New Jersey-designated trust and business accounts, including occasional and pro bono representations
• 2 How trust accounts must be held and labeled in NJ-approved financial institutions as attorney trust or IOLTA attorney trust accounts with no abbreviations
• 3 How to perform monthly three-way reconciliations matching bank balance, books, and client ledgers and maintain trust journals and check registers
• 4 The distinction between negligent and knowing misappropriation and OAE red flags such as early fee disbursements, personal transfers, and lapping

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