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IOLTA Record-Keeping: Free Trust Account Training Program Schedule from Massachusetts OBC/BBO

Anyone with uncertainties about IOLTA compliance can attend one of the free monthly programs offered by the Massachusetts Office of Bar Counsel, the Board of Bar Overseers, and participating bar associations.

 

Free monthly OBC/BBO trainings provide guidance for attorneys, paralegals, bookkeepers, or other law office support staff interested in receiving training on the requirements of Mass. R. Prof. C. 1.15 (as revised effective 7/1/15), providing participants with a detailed review of the records required to be maintained for IOLTA accounts and other trust accounts. The programs cover record-keeping “traps for the unwary,” including:

  • How to maintain your IOLTA account check register and individual client ledgers, either manually or using accounting software, in compliance with the rules
  • How to complete the mandatory “three-way” reconciliation of your IOLTA account and produce the required reconciliation reports
  • How to document the withdrawal of an earned fee from a trust account, including required notification and accountings to clients
  • What transactions are prohibited, including writing checks payable to “cash” and using checks that are not prenumbered

Programs are free, but advanced registration is required. To register, please call the Office of Bar Counsel at (617) 728-8750 and ask for “trust account program registration.” Programs will be in a Virtual Live Webinar (interactive) format, with specific times varying by date:

  • Monday, November 23, 2020 (9:30am – 10:30am, Massachusetts Bar Association)
  • Tuesday, December 29, 2020 (1pm – 2pm; tentative)
  • Wednesday, January 20, 2021 (1pm – 2pm)
  • Friday, February 26, 2021 (3pm – 4pm)
  • Monday, March 22, 2021 (9:30am – 10:30am, Massachusetts Bar Association)
  • Tuesday, April 20, 2021 (4pm – 5pm)
  • Wednesday, May 26, 2021(1pm – 2pm)
  • Friday, June 25, 2021 (3pm – 4pm, Massachusetts Bar Association)
  • Monday, July 26, 2021 (9:30am – 10:30am)
  • Tuesday, August 24, 2021 (4pm – 5pm)

Related Resource:

IOLTA Section of our Law Practice Startup Guide