Managing client money
The handling of trust money and the operation of trust accounts are closely regulated in Victoria. Lawyers, law practices and barristers’ clerks must observe strict requirements for how to handle trust money, as set out in the Legal Profession Uniform Law.
Every law practice and barrister’s clerk that is required to maintain a trust account must also deposit money into a statutory deposit account, and arrange for their trust records to be audited annually.
The following pages provide further detailed information on how client money is to be handled by lawyers, law practices and barristers’ clerks: