![]() Anytime a law firm or attorney holds funds in a trust account, it must be accounted for, which is where Trust Accounting comes in to play. Instead, the attorney is holding the money “in trust” for the client until it is to be distributed. The money in a trust account does not belong to the attorney or law firm. When the attorney acts as a fiduciary agent on behalf of a client or a client’s estate.In connection with payment from a settlement, or.For funds received at the start of representation,. ![]() The three most common scenarios in which an attorney will be responsible for a trust account are: Nearly every lawyer at some point or another will hold client funds. It’s not at all unusual for attorneys to handle client trust accounts. ![]()
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February 2023
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