Most lawyers manage funds from multiple clients at any given time. It’s great to have retainers and funds on hand for work you have yet to complete, but managing these funds can be challenging. It is extremely important that your firm always makes sure that one client’s funds do not mix with that of another. This is called commingling and it is strictly prohibited.This is a common mistake when funds from clients are kept in a single account without adequate records. CosmoLex has a simple solution to keeping your trust (IOLTA) accounts current and compliant.
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