An indispensible guide to trust account management for both students and legal practitioners For students, academics and practitioners, this first edition of Managing Client Money - Lawyers’ Trust Accounts in Queensland fills a gap, providing a definitive yet practical guide to the law relating to one of the most important and sensitive aspects of legal work, and the area of greatest concern to law societies - the way that lawyers must handle other peoples’ money. Managing Client Money addresses the principles of trust account management clearly and comprehensively by integrating the legislation, principles of trusts and fiduciary law and professional ethical rules and tribunal and court decisions. Although this work focuses on Queensland, Managing Client Money easily extends to other Australian jurisdictions as it rests on the uniform Model Laws regulating the management of trust money. Unique to the market, this title travels to topics not yet addressed in Australian legal textbooks: the purpose of a trust account; the lawyer as fiduciary and trustee; supervision of trust accounts; statutory deposits; third party claims on trust money; investments, mortgages; estate practice; audit, supervision; civil liability for trust account mismanagement; fidelity funds; and criminal responsibility for trust account mismanagement. Features and Benefits Comprehensive Queensland coverage of the law, while using legislation that applies nationally (excepting S.A.) Clear accounting examples illustrate how to keep all lawyers’ accounts required under the Model Laws and Model Regulations Includes references to the new draft National Law and Rules Combines the principles of trust account management and their rationale in narrative form Comprehensive references to the Queensland case-law and commentary on trust account management, criminal responsibility, civil liability and professional discipline for mismanagement
