Client Trust Funds

Certain legal matters require that monies be held "in trust" or "in escrow" for a client. For example, costs advanced by the client, or funds remitted to purchase real estate.

Client trust accounts are maintained separately from the attorney's funds. Nominal or short-term funds of clients paid to the law firm are deposited in one or more pooled interest-bearing trust accounts. Pursuant to Illinois Supreme Court Rule, The Lawyers Trust Fund of Illinois is designated as income beneficiary.

© Copyright 2005 - Linnea E. Thompson, Attorney At Law & MegaHunter Inc. and Attorney Hunter, an Attorney Directory-Lawyers, Law Firms, Attorneys. Lawyer Websites – Attorney Websites – Law Firm Websites – Legal Websites designed by MegaHunter, Inc. All Rights Reserved.