Did you ever wonder why you don’t receive any interest on the client funds held in your firm’s pooled trust accounts? I confess that I never thought about this when I was practicing, probably because the firms I worked with already had trust accounts in place when I started. I was aware, however, that the … Continue reading What About Interest on Lawyers’ Trust Accounts?
Changes to The Law Society of Manitoba’s Rules on trust accounts resulted in a flurry of new trust account openings as lawyers and law firms practising in the area of real property transactions set up the restricted accounts required for the new eRegistration system at Teranet Manitoba (aka The Property Registry.) As the Letters of … Continue reading Why it Matters Where You Hold Your Trust Account