How to Use Software to Better Manage Your Trust AccountsPerhaps the most important responsibility that lawyers have is the collection, management and distribution of other people’s money. Learn how a modern law firm sets up and manages trust accounts and how to best systematize trust account management using law firm software.
Even given the presence of specific trust accounting rules, many lawyers don’t manage their trust accounts correctly. But attorneys ignore IOLTA accounting requirements at their own risk. Mismanaging your trust accounting is the quickest path to bar discipline, in part, because it’s the most obvious possible ethics violation. It’s not a question of when and how you engaged a client; it’s a simple review of a series of financial transactions.
It’s considered a best practice to establish a system for managing your trust accounts and to reconcile those accounts at the required interval (every 60 days). In this program, you’ll learn about the advantages to incorporating a software system that can automate much of the trust accounting process for you. The program will also feature: