Trust Account Essentials Learning Module


The information contained in these modules, including any references to websites, appendices or links, has been prepared to assist readers as they develop or refresh their skills in the various areas of law covered by the modules. Given the changing nature of the law, readers should exercise their own skill and professional judgment when using the content. Always refer to the most current statutes, regulations, and practice directions, as well as the most recent case law and any other appropriate sources. These materials do not provide legal advice and should not be relied on in any way.

This module was updated in 2015. As you read through this module, if you find any information that is unclear, inaccurate or outdated, please advise the course facilitator.

  1. Objectives

  2. Top Ten Things to Know about Trust Accounting

  3. Accounting Terminology and Basics

  4. Basics for General and Trust Accounts

  5. Types of Trust Accounts - Pooled Trust Accounts

  6. Pooled Trust Accounts continued

  7. Separate Trust Accounts

  8. Withdrawing Trust Funds

  9. Withdrawing Trust Funds continued

  10. Paying Your Fees From a Trust Account

  11. Trust Balances and Shortages

  12. "I Have a Trust Shortage-Now What?"

  13. Trust Reconciliations

  14. Trust Reconciliations continued

  15. Trust Reconciliations continued 2

  16. Practical Information on Banking

  17. Avoiding Pitfalls

  18. Avoiding Pitfalls continued

  19. End of Lesson