On February 21, 2013, the Beverly Hills Bar Association (BHBA) hosted a seminar for solo attorneys and those with small firms on the importance of client trust accounting, as well as general law firm accounting. Our firm’s own Michael Ghozland put the entire event together, out of a desire to help educate lawyers on this sometimes overlooked area that can lead to harsh disciplinary actions from the California State Bar if handled incorrectly. The event hosted two different speakers, a personal banker from Union Bank and a certified public accountant from NSBN, a Los Angeles accounting firm.
The topics covered included how to set up trust accounts that comply with the guidelines laid out by the state bar, as well as how to obtain lines of credit for small firms and other general financial counsel. In addition, common accounting issues were discussed especially related to client trust accounting. The main purpose of this seminar was not only to inform lawyers in the area with financial information, but to provide them with practical steps to take. It is essential for any attorney to have a good grasp on client trust accounting, as it could result in serious consequences if the state bar finds their financial situation to be under par. There must always be a clearly defined system that shows what clients have paid, where their money is going and how much of their money in their account belongs to certain clients. It is ultimately the responsibility of each attorney to fulfill this legal and ethical obligation to their clients.
Attorney Ghozland was proud to present this seminar to his fellow colleagues in an effort to inform and protect not only his fellow lawyers, but also all client rights. Putting clients first in every case that he takes on, he is committed to putting their needs first. Working on a contingency fee basis, if you choose to work with Ghozland Law Firm, you will not have to worry about paying up front because you only have to pay if we win on your behalf. Work with a firm that knows how to handle your money in the proper manner and can strive to obtain a personal injury case result in your favor. Contact Ghozland Law Firm today to learn more! Calls returned within 24 hours!