Trust Accounting Resources
Where to start?
Fees and When to Place in Trust
Opening a Trust Account
FAQs
Forms
- Notice to Eligible Institution Form (Submit to bank. Must be kept on file.)
- Sample Trust Account Bank Notification Letter (Submit to bank. Must be kept on file.)
- Notice to Funding Florida Legal Aid Form (Formerly named The Florida Bar Foundation) (Complete Online) (Submit to Funding Florida Legal Aid AFTER opening the account)
- Notice of Closed IOTA Account (Complete Online) (Submit to Funding Florida Legal Aid (Formerly named The Florida Bar Foundation) AFTER closing the account)
- Monthly Reconciliation Forms
- Minimum Requirements Trust Account Plan Form
- Extended Trust Account Plan Form
- Trust Account Compliance Certificate and Pro Bono Report Form
- Checklist – New Trust Account
- Checklist – Trust Account Closure
For more forms visit our Document Library’s Trust Accounting Forms category.
Rules & Opinions
Chapter 5, Trust Accounting, The Rules Regulating The Florida Bar
Here are all the Ethics Opinions regarding Trust Accounts:
- Charging fees and expenses from two cases against settlement received in one case 62-15
- Checks identifying lawyer as lawyer 65-14
- Costs advances from client placed in trust account 93-2
- Disclosing possession of client’s funds to client’s creditors 60-34
- Disclosing trust account records to third parties 72-3, 93-5, 12-4
- Disputed funds held in trust 02-4, 02-6
- Fees, which to place in trust accounts 93-2
- Funds held for a “specific purpose” 82-2, 87-12
- IRS demands records 72-3
- Keeping client funds in several accounts to ensure complete FDIC coverage 72-37
- Nonlawyer employee as a signatory 64-40, 64-40 (Rec)
- Nonrefundable retainer 93-2
- Payment Apps 21-2
- Placing client funds in interest-bearing deposits with interest going to law firm 72-13
- Settlement proceeds deposited directly info account in client’s name 00-2, 00-2 (Rec)
- Title insurance company requests agent’s records for audit 93-5, 12-4
- Writ of garnishment served on attorney 66-78
See the Ethics Department’s complete Subject Index of Ethics Opinions. If you have questions about the aforementioned opinions you may contact the Ethics Hotline at 800.235.8619.
*Note: Advisory Ethics Opinions are not binding.
Additional Resources
- Tools Are Available to Protect Trust Accounts From Nefarious Actors The Florida Bar News, 5-26-23
- CLE: Trust Accounts by the Book
- CLE: Maintaining a Trustworthy Trust Account
- CLE: Trust Accounting Management Principles & Record Keeping Procedures
- CLE: Managing Client Trust Accounts and Ensuring Compliance
- Funding Florida Legal Aid Interest on Trust Accounts Program
- Firms Cautioned About IRS ID Numbers The Florida Bar News 12-15-12
- Rule 5-1.2 Now Require Written Trust Account Plans The Florida Bar News, 4-1-14
- Billing for Professional Fees, Disbursements and Other Expenses, ABA Ethics Formal Opinion 93-379
- Commonly Asked Questions about Trust Accounts The Florida Bar News 9-1-2010
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.
