What Every Lawyer Should Know about Disbursing Funds

CosmoLex Team

Funds-Disbursement

You’ve just won a settlement for a client. Bravo! The funds from the settlement have been deposited into the client’s trust account, and the client is eager to receive their money. As soon as the funds show up as “available” in the bank feed, you cut your happy client a check—hold up. Not so fast. Just because the deposited funds … Read More

After making a deposit to trust, how long do I have to wait before I disburse funds?

CosmoLex Team

Most state and local bar rules require attorneys to make sure that a settlement check deposited into a client trust account has cleared the bank prior to disbursing any funds.[1] Many attorneys disburse funds from trust accounts as soon as they become available because they confuse availability of funds with the check clearing (a check clears when the money from the … Read More