FAQs – Part B – question 5(b) – Register of Powers and Estates in relation to Trust Money – Rule 60 - Victorian Legal Services Board + Commissioner

Part B – question 5(b) – Register of Powers and Estates in relation to Trust Money – Rule 60

A law practice must maintain a register of powers and estates for trust money where the law practice or an associate of the practice is acting (or entitled to act) alone or jointly with the law practice, or one or more associates of the practice.

This does not apply where the law practice or an associate of the law practice is also required to act jointly with one or more persons who are not associates of the law practice (Rule 60(2)).

Required particulars

The register of powers and estates must record:

(a)   Particulars sufficient to identify each power where the law practice, or an associate of the law practice, is acting (or entitled to act) alone or jointly with the law practice or one or more associates of the law practice. This includes the name and address of the donor and date of each power.

(b)   Particulars sufficient to identify each estate in where the law practice, or an associate of the law practice, is acting (or entitled to act) alone or jointly with the law practice or one or more associates of the law practice. This includes the name and date of death of the deceased for each estate of which the law practice or associate is executor or administrator.

A suggested format of the Register of Powers and Estates is:

Date of Power Name and Address or Donor/Deceased Matter Reference Description of Power Date of Death of Deceased Responsible Solicitor
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Last modified April 3, 2019.