Do I need to keep original canceled checks for compliance purposes?

CosmoLex Team

Rule 1.15 of the American Bar Associations’ model requires lawyers to keep complete records for trust accounts. As part of this, lawyers should be prepared to keep supporting documentation for all transactions and balance amounts. When acting as a fiduciary for client funds[1], part of that responsibility requires lawyers to be able to substantiate their books, reconciliations, and transactions. Should … Read More