Effective Jan. 1, 2024, the Corporate Transparency Act will introduce new compliance requirements for private reporting companies. These companies must now disclose personal details of individuals in ...

Trust accounting—specifically, the management and recordkeeping of client trust accounts—is an aspect of legal practice that demands meticulous attention. Whether dealing with escrowed funds, ...

Let’s say your client is the beneficiary of a family trust (meaning here a noncharitable irrevocable trust) that was created by a grandparent who made a fortune by founding a restaurant chain. The ...

It is in the best interest of trustees to take proactive measures to protect themselves against potential lawsuits and other liabilities. One of the most effective ways of accomplishing this is ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

Almost every funded trust has one or more bank accounts—checking, savings, money market or certificates of deposit—and most of those accounts are insured by the FDIC. What many do not realize is that ...

Trust accounts provide a way for lawyers to hold a client's money while working on a case. When a client gives you a payment, you can enter it into a separate designated checking account. Before you ...

The vast majority of professional auditors have expressed concern that AI tools, while helpful, risk undermining professional ...