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Avoiding Common Trust Accounting Errors for Well-Intentioned Lawyers

Attorney at Work

If a client deposits $3,000 into your trust account, they need to have a $3,000 credit in your trust account. If you have credit card processing set up to subtract processing fees before making the deposit, the client will have less than $3,000 in the trust account after the deposit is made. This is not right.

Lawyers 254
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Three Tips on How to be a Great Mentee

Attorney at Work

An analogy might be asking yourself if you’ve made sufficient deposits in the relationship “bank” before making withdrawals. Is it through an administrative assistant? Subscribe to Attorney at Work. The post Three Tips on How to be a Great Mentee appeared first on Attorney at Work. Be mindful of your ask, too.

Lawyers 264
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Commingling Funds: Understanding the Risks and Legal Implications

CosmoLex

Most jurisdictions require attorneys to keep client funds separate from their own. Disciplinary Action by the State Bar Bar associations have the right to cancel attorney licenses if accounting rules are broken, and in some severe cases, lawyers can face public or private reprimand. Rules on managing client funds vary by state.

Legal 52
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How Do Lawyers Plan for Retirement?

MyCase

According to Law.com , attorney retirement in New York is “remarkably complex” with “variations of ‘retire’… used in different contexts.” Some law firms have policies that require attorneys to retire by a certain age—usually between 65 and 70. Obtain client permission to submit a withdrawal as attorney of record if needed.

Lawyers 52
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Congressional Proposal for Copyright Small Claims Court – What Does It Suggest?

Broadcast Law Blog

The bill proposes that the Board will be comprised of three “Officers” (essentially Judges), and two other attorneys, all experienced in copyright claims, and many required to have experience in mediation of such claims. Discovery is generally limited to requests for admission and document production – not depositions.

Court 40