Trust accounts

Trust accounts June update for members

30 Jun 2022

Trust accounts June update for members

Important information relating to the trust account year ending 31 March 2022.

Trust accounts March update for members

4 Apr 2022

Trust accounts March update for members

Important information relating to the trust account year ending 31 March 2022.

eConveyancing implications

29 Nov 2021

eConveyancing implications

Implications for trust money in eConveyancing matters (including PEXA).

Trust account alert: email scams active

19 Nov 2021

Trust account alert: email scams active

The Society reminds members of the need to continually be alert to cyber fraud.

Ethics and standards in practice: On whose authority can a law practice disburse trust money?

5 Jul 2021

Ethics and standards in practice: On whose authority can a law practice disburse trust money?

In our regular in-depth ethics case study, Professional Standards Manager Rob Reis discusses a recent case. When acting for a client who is purchasing property or a business in circumstances where there is no listing or selling agent, and the seller is self-represented, ensure that if there is a deposit paid into the trust account of the buyer’s solicitor (i.e. your law practice trust account), that there are dedicated special conditions dealing with the disbursement of those funds on settlement of the contract. From the Winter 2021 edition of Ethos.

On whose authority can a law practice disburse trust money?

5 Jul 2021

On whose authority can a law practice disburse trust money?

A case study from the 'Ethics and standards in practice' series.

Ethics and standards in practice: Secure express instructions when dealing with trust money

30 Mar 2021

Ethics and standards in practice: Secure express instructions when dealing with trust money

In our first in-depth ethics case study, Professional Standards Manager Rob Reis discusses a recent case. When acting for more than one client in relation to a common fund held in trust on behalf of those joint clients, a law practice must obtain express instructions (and more prudently in writing) from all clients in the matter before dealing with the funds held in trust. This is particularly relevant when a government agency issues a demand notice on a portion or all those funds held in trust. From the Autumn 2021 edition of Ethos.

Secure express instructions when dealing with trust money

29 Mar 2021

Secure express instructions when dealing with trust money

A case study from the 'Ethics and standards in practice' series.

Answering ethics questions: A trust account dilemma or; “Let’s hold back some money in Trust…”

14 Dec 2020

Answering ethics questions: A trust account dilemma or; “Let’s hold back some money in Trust…”

Ross Watch from the Law Society’s Legal Profession Act & Ethics Committee provides some advice on the traps inherent in retaining money in trust accounts without express authority from your client. From the Summer 2020 edition of Ethos.

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