Managing Money

Managing Money teaches attendees how to onboard a new client, create an appropriate fee agreement and earning mechanism, manage advance fees and expenses, create the client ledger, and handle the transfer of funds between the trust account and operating account. Lawyers and their staff learn how to manage the client representation from the perspective of the fee agreement and bank accounts of the firm or organization.

Attendees will learn how to engage a prospective client into the correct fee agreement, negotiate financial terms and conditions that are compliant with the rules of professional conduct, and then onboard the new client into the firm’s financial management system.

The course manual will be provided after registration and should be read prior to the course session.

The program focuses on the earning mechanism in seven distinct type of engagements and examines how each earning mechanism process impacts the firm’s trust account, operating account, and client ledger.

The types of client engagements explored in detail are:

• The Agreement for Initial Consultation;
• The Advance Flat Fee Representation for a Client Charged with a Felony Criminal Offense;
• The Advance Flat Fee Representation for an Immigration Client;
• The Advance Hourly Fee Representation for a Civil Litigation Client;
• The Advance Flat Fee Representation for an Estate Planning Client;
• A Contingency Fee Representation for an Injury Case;
• An Availability Representation (classic Engagement Retainer).

In examples established by the fee agreement, an advance fee will be collected and deposited into the firm’s trust account.  As time passes and work is performed, funds will be transferred from the trust account to the firm’s operating or business account as fees are earned.  Ledger entries will be shown for all transactions.  TrustBooks.com will be used to demonstrate fund management and the creation of client and account ledgers.

D.C. Bar members and their law firm staff may attend the course in two ways.  (1) you may register for an upcoming session and attend with other Bar members and their staff, or (2) you may request a one-on-one session for you and your staff.

Upcoming Sessions

September 28, 2023, 9 a.m. – 12:30 p.m.
REGISTER

December 4, 2023, 9 a.m. – 12:30 p.m.
REGISTER

Public sessions are conducted in-person only now that the D.C. Bar headquarters has re-opened. Anyone entering the building must comply with  these protocols.

To request a one-on-one session, email [email protected] with Managing Money in the subject line and a practice management advisor will respond to arrange a date and time for a Zoom meeting.