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Avoiding Common Trust Accounting Errors for Well-Intentioned Lawyers

Attorney at Work

Trust accounting mistakes strike fear in the hearts of well-intentioned lawyers. If a client deposits $3,000 into your trust account, they need to have a $3,000 credit in your trust account. Instead, the $3,000 should be deposited in your trust account, and any processing fee should be deducted from your operating account.

Lawyers 254
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Three Tips on How to be a Great Mentee

Attorney at Work

Some of these mentor relationships lasted only for a single 30-minute “pick-your-brain” session, while others have been as needed over the trajectory of the lawyers’ careers. If you’re a young lawyer and want to have a meaningful relationship with your mentor, here are a few tips on how to be a great mentee. Related Resources.

Lawyer 264
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How Do Lawyers Plan for Retirement?

MyCase

Whether your retirement is around the corner or further down the road, retirement for lawyers requires extensive preparation. There are certain lawyer retirement rules and regulation requirements you’ll need to follow—and they vary from state to state. . When Do Lawyers Retire? Is There a Mandatory Retirement Age for Lawyers?

Lawyers 52
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Commingling Funds: Understanding the Risks and Legal Implications

CosmoLex

State Bar Rules dictate how law firms should manage client funds, and when lawyers inadvertently or purposely mix client funds with personal or business ones, it is known as commingling. Lawyers possess fiduciary responsibilities in the best interest of clients. By commingling funds, lawyers and firms directly violate this duty.

Legal 52