On the first Thursday of each month, the Office of Bar Counsel and the Mass
and Boston Bar Associations are co-sponsoring a free one-hour program on trust
account record keeping. The program will provide guidance for attorneys,
paralegals, bookkeepers, or other law office support staff interested in
receiving training on the requirements of Mass. R. Prof. C. 1.15, as revised
effective July 1, 2004.
This program will provide participants with
a detailed review of the records required to be maintained for IOLTA accounts
and other trust accounts. We will look at record-keeping “traps for the unwary,”
- How to maintain your IOLTA account check register and
individual client ledgers, either manually or using accounting software, in
compliance with the rules How to complete the mandatory “three-way”
reconciliation of your IOLTA account and produce the required reconciliation
reports How to document the withdrawal of an earned fee from a trust account,
including required notification and accountings to clients.
- What transactions are prohibited, including writing checks payable to
“cash” and using checks that are not prenumbered.
The program is free, but advance registration is required. To register,
please call the Office of Bar Counsel at (617) 728-8750 and ask for “trust
account program registration.”