Your Expert Partner for Trust Accounting Services
Trust accounting services from Legal Edge Services are designed to assist attorneys with the daily operational details of proper and compliant trust accounting. Whether you’re handling real estate transactions or legal settlements, or need to manage your retainers.
Following are examples of the accounting, tracking and reporting services we can assist you with, in full compliance with applicable regulations and best practices:
- Payouts from class actions or personal injury law suits
- Workers’ compensation awards
- Certain real estate fees such as appraisal fees, title fees, or realtor fees
- Escrow payments
- Loan payoffs
- Homeowner’s insurance
- Advance retainers for legal services not yet rendered
- Many other specific funds
How our services work for you
Our trust accounting services adhere to the rules and protocols required of proper trust accounting, and work effectively on behalf of you and your clients.
For starters, we keep all of your trust accounts separate. Our accounting software enables us to create sub-accounts for each client within a single bank trust account. And that, in turn, allows us to maintain separate transaction ledgers for each client, and a paper trail for every transaction. These records will stand up to audits by the Florida bar and relevant government agencies.
In accordance with regulations and trust accounting best practices, we verify your trust accounts on a scheduled basis. In addition to many other benefits, this allows any of your clients to request and receive a prompt refund of their retainer. Or to receive a complete accounting of every deposit, withdrawal, and disbursement, as required by law.
Finally, our services help support the tracking of any interest earned on your trust accounts, and its disbursement to non-profit legal service providers.
One less distraction for you
Whether you’re a solo practitioner, a two-partner firm, or are just getting started in the business of law, our trust accounting services will ensure that your accounts are set up correctly and in accordance with all applicable requirements. And that means one less distraction for you.
To remove yet another distraction, ask about our legal billing services.