Trust Account Care and Feeding Daniel M. Mills, Esq. Manager, Practice Management Advisory Service District of Columbia Ba...
The  basics . Keeping  records . FAQ’s. Your  questions . How  Rocket Matter  handles Trust Accounting. TOPICS
It starts with the fee agreement and Model Rule 1.5(b)
Is based in Model Rule 1.15 & Safe Keeping of Property
Basic concept:  Keep our property separate from the property of the client or third party
Funds must be kept in a separate account Operating Trust
Advanced Fees Client provides advanced fees which are deposited into trust until work is performed billed in adherence to ...
Every jurisdiction has its rule about maintaining the lawyer’s trust account
Every jurisdiction has a variation of   IOLTA   Interest on Lawyer Trust Account
Complete records of the trust account must be maintained and preserved.
Be able to show the history of the trust account with records from three views:  client third party overall account
What goes into the trust account? Trust ?
What comes out of the trust account? Trust ?
When can we put our own money into the trust account?
Can we ever withdraw cash from the trust account?
The settlement check just arrived.  What do I do?
My clients are arguing over the proceeds of the sale.  What do I do?
My client disputes part of my statement but not all of it.  What should I do?
Can a client waive having funds go into the trust account?
DEMO
For more information: Dan can be reached at the DC Bar 202-626-1312 [email_address]
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Legal Trust Account Care and Feeding with Dan Mills of the D.C. Bar

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This slideshow is a companion to the webinar recording of "Trust Account Care and Feeding with Dan Mills of the D.C. Bar" available on the Rocket Matter Legal Productivity Podcast at http://www.rocketmatter.com/podcast.

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  • Legal Trust Account Care and Feeding with Dan Mills of the D.C. Bar

    1. 1. Trust Account Care and Feeding Daniel M. Mills, Esq. Manager, Practice Management Advisory Service District of Columbia Bar dmills @dcbar.org Sponsored by Rocket Matter, LLC April 22, 2010
    2. 2. The basics . Keeping records . FAQ’s. Your questions . How Rocket Matter handles Trust Accounting. TOPICS
    3. 3. It starts with the fee agreement and Model Rule 1.5(b)
    4. 4. Is based in Model Rule 1.15 & Safe Keeping of Property
    5. 5. Basic concept: Keep our property separate from the property of the client or third party
    6. 6. Funds must be kept in a separate account Operating Trust
    7. 7. Advanced Fees Client provides advanced fees which are deposited into trust until work is performed billed in adherence to fee agreement
    8. 8. Every jurisdiction has its rule about maintaining the lawyer’s trust account
    9. 9. Every jurisdiction has a variation of IOLTA Interest on Lawyer Trust Account
    10. 10. Complete records of the trust account must be maintained and preserved.
    11. 11. Be able to show the history of the trust account with records from three views: client third party overall account
    12. 12. What goes into the trust account? Trust ?
    13. 13. What comes out of the trust account? Trust ?
    14. 14. When can we put our own money into the trust account?
    15. 15. Can we ever withdraw cash from the trust account?
    16. 16. The settlement check just arrived. What do I do?
    17. 17. My clients are arguing over the proceeds of the sale. What do I do?
    18. 18. My client disputes part of my statement but not all of it. What should I do?
    19. 19. Can a client waive having funds go into the trust account?
    20. 20. DEMO
    21. 21. For more information: Dan can be reached at the DC Bar 202-626-1312 [email_address]

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