Trust Accounting: Your Financial and Ethical Responsibilities

The Professional Liability Fund is presenting, “Trust Accounting: Your Financial and Ethical Responsibilities,” on Thursday, May 12, 2011, in Tigard, Oregon.  Topics include:

Ethical Trust Accounting Procedures with Beverly Michaelis and Dee Crocker

  • Setting Up a Lawyer Trust Account
    • Selecting a Bank – ORPC 1.15-2(h)-(k)
    • IOLTA Accounts – ORPC 1.15-2(b)
    • Pooled Lawyer Trust Accounts – ORPC 1.15-2(c)(2)
    • Interest Bearing Accounts for Specific Clients – ORPC 1.15-2(c)-(f)
  • Key Trust Accounting Concepts
    • Unearned Funds Belong in Trust – ORPC 1.15-1(c)
    • Waiting for Funds to Clear – ORPC 1.15-1
    • Accounting to the Client – ORPC 1.15-1(e)
    • Earned on Receipt Fees – ORPC 1.5(c)(3); 1.15-1(c); OSB Op. No. 2005-151
    • Remitting Unclaimed Funds – OSB Op. No. 2005-48, ORS 98.302 et seq.
    • Avoiding Overdrafts – ORPC 1.15-2
    • Safekeeping Property – ORPC 1.15-1(a)
  • Proper Recordkeeping
    • Tracking Funds – ORPC 1.15-1(e)
    • Keeping a Paper Trail – ORPC 1.15-1(e)
    • Reconciling the Account – ORPC 1.15-1(e)
    • Retaining Records – ORPC 1.15-1(a)
  • Implementing Safeguards
    • Protecting Client Funds from Embezzlement – ORPC 1.15-1

And a Q & A with Oregon State Bar General Counsel Helen Hierschbiel:

  • Monitoring the IOLTA Account
  • Setting Up Separate Interest-Bearing Accounts
  • Accepting Credit Cards
  • Responding to Fee Disputes, Garnishments, and Third Party Liens
  • Investigating Embezzlement
  • Accounting for Unidentified Funds
  • Questions from the Audience 

This seminar will be held live and will also be available as a Webcast.

The live seminar will be held at the Oregon State Bar Center, 16037 SW Upper Boones Ferry Road, Tigard, Oregon.   Registration/check-in begins at 8:30 a.m.  The program will run from 9:00 a.m. to 12:15 p.m.  The fee for the live seminar is $10 per person.  The fee for the Webcast is $10 per person.

To print a registration form for the live seminar or for FAQs about Webcasts, go to www.osbplf.org, click on Upcoming Seminars, and select “Trust Accounting: Your Financial and Ethical Responsibilities.” If you are registering for the live seminar, mail your completed registration form with a check for $10 made payable to the PLF.  Click here to register for the Webcast

This seminar qualifies for 3.25 MCLE Ethics credits.  Registration deadline:  Monday, May 9, 2011. 

We hope to see you there!

2 thoughts on “Trust Accounting: Your Financial and Ethical Responsibilities

  1. Pingback: Running a Successful Law Practice « Oregon Law Practice Management

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