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Trust Accounts

General Trust Account

Funds that are nominal in amount or are on deposit for a short period of time are to be placed in an UNSEGREGATED account in which the interest is paid to the State Bar. The attorney is the trustee of the account.

When the case is settled, the award is deposited in the general trust account. Checks are then written to various parties to cover expenses, to the attorney to cover his fees, and case related costs, and the remainder goes to the client.

Specific Retainer

This advance payment is commonly deposited into the trust account. The attorney then transfers part or all of the money from the trust account to the general account as it is earned. When the trust fund balance for the client is exhausted, the client is billed for any balance due.

Contingent Fees

This type of arrangement is common in personal injury cases. The total settlement is deposited in the trust account. Disbursements include medial costs, litigation costs, attorney’s fees, reimbursement of attorney expenses and remaining proceeds distributed to the client.

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