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January 27, 2025 | All Finance Topics, Finance & Banking, Trust Accounting

Opening a Trust Account

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Trust accounts are necessary for the majority of law firms. Failure to comply with trust accounting rules results in many disciplinary complaints each year, and solo practitioners are no exception. Learn these rules and make sure you take trust accounting seriously.

Where Do You Start?

First, read Chapter 5, Trust Accounting, The Rules Regulating The Florida Bar.

Open Your Trust Account

After you have learned the rules, open your trust account. Enrollment forms are available on the Funding Florida Legal Aid (formerly Florida Bar Foundation) website. Don’t forget to verify your account is titled properly.

Create Your Trust Account Plan

The Bar requires all lawyers with more than one attorney in the firm to have a written trust account plan.
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Sample Trust Account Plan for Law Firm

1 file(s) 541.58 KB
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Don’t forget to fill out your Trust Account Compliance Certificate, which can be found on your Annual Fee statement. Read the instructions on The Florida Bar website.
Your Trust Account is set up and ready to accept deposits. Now, make sure you know the rules. Here are some helpful tips:

VIEWS AND CONCLUSIONS EXPRESSED IN ARTICLES HEREIN ARE THOSE OF THE AUTHORS AND NOT NECESSARILY THOSE OF FLORIDA BAR STAFF, OFFICIALS, OR BOARD OF GOVERNORS OF THE FLORIDA BAR.