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Trust money fundamentals - know your obligations - On-demand
Course ID ID21012_PSK1
This on-demand material was recorded in September 2020.You can purchase and access this content at any time.
Understanding basic bookkeeping is essential for every Australian lawyer to assist in the proper conduct of matters, including preparing bills of costs and trust account statements.
Whether you’re a sole practitioner, partner, or director of an incorporated legal practice, legal bookkeeping can be notoriously complex, and it's important to fully understand your obligations and those of your law practice.
In this on-demand recording, join Frances Moffitt in this one-hour fundamental guide where you will learn about:
- What is trust money and the different types
- Where should trust money be paid
- What law practices must do
- Dispersing funds without authority
- Mixing trust monies with other monies
- Receiving trust money in cash
- Deficiency in trust accounts
- Responsibilities of principals
- Liability of principals
Please consult the CPD rules for your state to ascertain how many CPD points you can claim for private study of audio/visual material during the CPD year.
Due to new reporting requirements introduced by the Legal Practice Board of Western Australia on 1 April 2021, practitioners holding WA practising certificates are not currently eligible to claim CPD points for this product.
Full Price $99.00
Alumni/Member Price $89.10
30 June 2023
Frances Moffitt is a solicitor in the Professional Standards Department at the Law Society of NSW and adjunct lecturer at the College of Law. Fran’s professional experience includes insolvency and bankruptcy law; criminal law (proceeds of crime), administrative law; taxation law; and statutory investigations.
Claiming CPD units
If you intend to claim CPD units for this educational activity, please note that CPD activities are not accredited by the Law Society of NSW or any other equivalent local authority, with the exception of Western Australia. If you hold a practising certificate in a state or territory other than Western Australia and this educational activity extends your knowledge and skills in areas that are relevant to your practice needs or professional development, then you should claim one (1) "unit” for each hour of attendance, refreshment breaks not included. The annual requirement is ten (10) CPD units each year from 1 April to 31 March. Some practitioners, such as accredited specialists are required to complete more than ten (10) units each CPD year.
If you hold a Western Australian practising certificate, please refer to the course description above as to whether you are eligible to earn CPD points for this activity.