Lawyer Trust Account
/ˈlɔːjər trʌst əˈkaʊnt/
Definitions
- (n.) A separate fiduciary account maintained by a lawyer to hold clients' funds distinct from the lawyer's own money.
The lawyer deposited the settlement funds into the lawyer trust account for safekeeping until disbursement.
Forms
- lawyer trust account
- lawyer trust accounts
Related terms
See also
Commentary
Precise accounting and segregation are essential to comply with ethical rules governing lawyer trust accounts.
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.