Trust

We lawyers are required to undergo continuing legal education (CLE) in order to keep our bar licenses. In Utah, we have to earn 12 credits (hours) of legal education per year.

I usually have no problem getting these 12 credits. I like attending CLEs. I generally only attend CLEs that are employment law related and I enjoy making sure I’m always current on the rapidly-changing world of employment law. I especially like in-person CLEs when I can see some of my Salt Lake City employment lawyer friends.

But recently, for some reason, for the first time I can ever remember, my deadline for submitting my CLEs for the year was approaching and I was several hours short. I checked to see if any employment law related CLEs were coming up before my deadline, but there were none.

What there was, however, was a very inexpensive CLE, with exactly the number of credit hours I needed, at a very convenient date/time, put on by the Utah Bar, so I knew it would be high quality. So I registered for and attended this CLE.

It was three hours about trust accounting for lawyers. Trust accounting refers to the practice of keeping separate track of client money held in trust and a law firm’s operating money. This ensures that any client money that a lawyer holds is kept safe and managed with full transparency. It includes important concepts like: don’t commingle client money and firm money; keep detailed records of client money coming in and going out; and only use a client’s money for that client’s legal matters.

My main takeaway after three hours of learning about trust accounting is this: Trust accounting sounds like something I very much don't want to do.

The presenter told us that there’s one sure fire way to not have to worry about trust accounting: Only bill for work that’s already been done.

The presenter warned the audience: “There are very few lawyers” in this lucky group.

I’m one of the lawyers in that lucky group.

And I’m in this group thanks in large part to my clients, who in the 2 ¾ years I’ve had my own practice, have never, not once, not timely paid my bills.

I have never felt the need to ask for or accept money from a client before doing the work to earn that money.

“Trust.” This is the kind of trust I can get enthusiastic about.

Hey clients: Thanks for trusting me with your business. I want you to know that I trust you too. Thank you for making running Modern Age Employment Law so easy and joyful to me.