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Did you set up your law firm trust account?

All attorneys with a New Jersey law practice must maintain separate trust and business accounts. Even if your practices are minimal and may probably never use a trust account you are still required open and register your accounts. All accounts must be in New Jersey financial institutions. Your IOLTA (Interest on Lawyers' Trust Account) must be maintained in approved banks. See below for more info.

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What is Three Point Trust Account Reconciliation?

a. Point One: What is the balance in the trust account? b. Point Two: What is the balance in your trust liability account on your balance sheet? Does point one and two match at all times for all dates


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