Client Trust Account
/ˈklaɪənt trʌst əˈkaʊnt/
Definitions
- (n.) A bank account held by a legal professional or firm to keep clients' funds separate from the lawyer's own money, ensuring fiduciary duty compliance.
The lawyer deposited the settlement funds into the client trust account pending disbursement.
Forms
- client trust account
- client trust accounts
Related terms
See also
Commentary
Essential for maintaining ethical financial separation; must be handled per jurisdictional rules to avoid commingling.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.