Trust yourself: how to properly manage your trust accounting to stay compliant with your state bar [on demand webinar]

Some of the most common sanctions assessed across states have to do with trust account violations. In her recent CLE, attorney and Smokeball legal technology advisor Jordan Turk gave a refresher on trust accounts and their ethical considerations, which you can watch here for free. She also shared four war stories and advice on how to avoid similar outcomes.  

Here’s how she broke out the session: 

Part 1: Trust Account 101  

• Overview of IOLTAs  

• Serving as fiduciary of clients’ funds 

• Watching out for bad actors 

Part 2: Ethical considerations  

• Refresher on ABA Rule 1.15 and 1.5 

• Properly accepting credit cards (Hint: ensure you’re using a solution specified for attorneys) 

• Three-way reconciliation (what it is and how to do it) 

Part 3: Storytime  

• Four horror stories and ensuring you’re in compliance 

Jordan wrapped with eight key take-aways. One last reminder: a lawyer must maintain seven years of current trust account records. If yours are just paper files or saved to your desktop, watch our on-demand webinar about disaster planning and recovery. You don’t want these essential documents going up in smoke or lost to a bricked computer.