Tag Archives: trust accounting

WATCH ON YOUTUBE Speakers: Erica Birstler, Vice President at CosmoLex Legal Many lawyers think that trust accounting can be managed easily by following just a few best practices. But improper trust accounting (whether by accident or fraud) is one of the top reasons lawyers find themselves in trouble both financially and professionally. While it’s critical to know the basics of …

When it comes to legal trust accounting, you — the lawyer in charge — are the one obligated to make sure your firm is staying current and compliant. While your bookkeeper or accountant may assist with the daily tasks, the real responsibility lies in your hands. While it may sound like a daunting task, have no fear! The reports you …

Handling client funds can be one of the most complex parts of running a law practice. The rules and regulations of handling client funds can become very difficult based on the specific type of account, your local jurisdiction, and other factors. As an attorney, you are the one responsible for the proper management of these funds. If you want to …

Each year, the State Bar of California’ Office of Chief Trial Counsel, the bar’s prosecution unit, receives over 2,000 reports of bounced checks from banks holding law firm trust accounts. Some of these may be innocent error, but the public is also reading high profile articles about trust account abuse. To add to the complexity, some law firms experience the opposite …

In this video, we will cover the best communication practices for addressing clients followed by the ins-and-outs of creating an effective fee agreement. Lastly, you will discover the necessary steps it takes to run an efficient and ethical office by understanding financial control and the psychology of billing, including a discussion on the proper use of trust accounts. Key Points: …