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Client Money: Trust Account Management for Australian Lawyers

Client Money: Trust Account Management for Australian Lawyers

Author: Reid Mortensen
Publisher: LexisNexis Australia
ISBN: 9780409342079
Published In: April 2017
Format: Paperback
Jurisdiction: Australia ? Disclaimer:
Countri(es) stated herein are used as reference only

HKD 420.66

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Description
Contents

Details

A detailed and comprehensive text on the law and professional standards relating to the role of lawyers in handling money held for a client, dealing principally with lawyers’ trust account management.

It covers all Australian jurisdictions and includes plentiful accounting examples. It is suitable both as a practitioner reference and for student and PLT use.

This valuable text provides comprehensive and detailed guidance on the law and professional standards and ethics governing the role of lawyers in handling money held for a client, with a particular focus on lawyers’ trust account management. It covers all Australian jurisdictions, and includes the Legal Profession Uniform Law now in force in New South Wales and Victoria.

As the security of trust money rests significantly on how lawyers account for trust account transactions, the accounting required by law is explained and examples are given to illustrate how accounts are to be kept. The more general legal responsibilities relating to handling of others’ money are also discussed, including those arising in contract, tort and under fiduciary and trustees’ duties. The author also addresses the statutory powers that underpin civil remedies such as the ordering of accounts and appointment of receivers.

The scope and depth of coverage of this work make it essential reading for legal practitioners, students and graduates undertaking practical legal training.

Features:-

Comprehensive coverage Australia-wide of trust account requirements
Identifies the underlying ethical responsibility of practitioners in managing client funds
Ensures appropriate awareness of the consequences of breach
Includes plentiful accounting examples
Clear, accessible explanations

The Lawyer as Fiduciary and Trustee

Client Money, Classification and Accounts

Opening Accounts

Recording

Receiving and Depositing Money

Paying Money

Lawyers’ Accounts

Interest on Lawyers’ Trust Accounts

Reconciliations

Controlled Money and Investments

Transit and Power Money

Regulation, Audit and Supervision