COURSE CATEGORY
Practice management and business skills
Law practice trust accounts – fundamentals and pitfalls
Published on 27 February 2024
The knowledge of basic bookkeeping is important for every Australian lawyer. For lawyers, whether as principals or employees, this knowledge assists in the effective and proper conduct of matters, including the preparation of bills of costs and trust account statements.
Moreover, every lawyer who contemplates entering into practice as a principal, whether as a sole practitioner, partner or director of an incorporated legal practice, must accept the fact that carrying on a practice involves the carrying on of a business.
Join Frances Moffitt in this one-hour fundamental guide where you will learn about:
- What is trust money and the different types
- What money does and does not have to go into a trust account
- Some key cases and pitfalls to be aware of
- Managing cash in a law practice
- Managing investment money
- The key provisions in the Legal Profession Uniform Law
Completion of this course will earn you 1 CPD unit.
TARGET AUDIENCE
All practitioners
CPD POINTS
1
TYPE
Video-based interactive module
Course Author:
Frances Moffitt
Australian Legal Practitioner
Fran has Professional qualifications in Accountancy and Law. She has considerable experience both as a solicitor and trust account investigator. Her professional knowledge and experience include taxation; insolvency; proceeds of crime and 8 years as a trust account investigator.
Fran was employed as a Regulatory Compliance Solicitor in the Professional Standards Department at the Law Society of NSW for over 16 years where she assisted practitioners with all regulatory aspects of legal practice. During this time Fran developed a detailed knowledge of the Legal Profession Uniform Law (NSW) the Legal Profession Uniform General Rules 2015 and the Legal Profession Uniform Legal Practice (Solicitors’ Rules) 2015.
Her professional skills include a strong consultative and education focus in the areas of trust accounts; practising certificates, practice structures and in particular the establishment of new and merging partnerships and incorporated legal practices
