Cash is King
The maximum aggregate amount of cash that a lawyer can receive in respect of any one client matter
What is: $7,500.00?
Funds paid into or out of a trust account must be directly related to this.
What is: Legal services provided by the lawyer or law firm?
This document will be forwarded to lawyers for review and instructions with respect to trust balances with no activity.
What is: Trust Listing?
What is: receiving cash?
A lawyer who receives or accepts an aggregate amount greater than $7,500 must make any refund in this form.
What is: In Cash?
A type of trust transaction for which a lawyer is permitted to accept cash without a limit
What is: Professional fees, disbursements and expenses (or bail)?
Upon completion of the legal service to which funds relate, a lawyer must obtain instructions to do this.
What is: Instructions to pay out funds as soon as practicable?
This is what we use to create the document that must be prepared when cash is received.
What is: A WordPerfect Receipt template?
A lawyer makes use of the cash received from a client is an example of this
What is: accepting cash?
When a cash refund is paid this document must be prepared in connection with that refund
What is: A receipt?
Lawyers must be satisfied that the cash is not connected with this
What is: Proceeds of Crime?
Upon completion of the legal service to which funds relate, this must be returned to the client.
What is: Unused portion of trust funds?
This requires that two partners attend at Vancity (together).
What is: a Cash refund?
When a lawyer receives cash they are not permitted to accept, the lawyer must do this with the cash
What is: return the cash to the payer immediately?
The form of funds required to refund $1,500 to a client if the lawyer has received $10,000 in cash.
What is: Physical cash?
When receiving cash a lawyer must ask detailed questions about this
What is: Source of funds?
Settlement proceeds relating to a client file are an example of this.
What is: Funds that can be deposited to trust?
What is: Cash?
When cash is received this document must be prepared
This must happen within 7 days of the receipt of cash that has been received but is not permitted to be accepted.
What is: a written report addressed to the Executive Director?
What is: Legal services to be rendered?
Funds deposited to Trust with instructions for disbursement to a third party when no legal services have been rendered are an example of this.
Accounting requires that this VSLO form accompany all funds to be deposited to trust.
What is: a Trust Deposit form?
Date, name of person who pays cash, name of client for whom cash is received, file number, amount of cash, signature of person providing cash, signature of person receiving cash.
What is: information to be recorded on the Cash Receipt?
A lawyer who receives or accepts an aggregate amount in cash of $7,500 or less must make any refund in this way
What is: A trust cheque.