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LSDefine

Simple English definitions for legal terms

trust account

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A quick definition of trust account:

A trust account is a special bank account that a lawyer uses to hold money that belongs to their client. This could be money from a settlement or money that the client gave to the lawyer to use later in a business transaction. The account usually earns interest and is sometimes called a client trust account.

A more thorough explanation:

A trust account, also known as a client trust account, is a type of bank account that a lawyer uses to hold money belonging to a client. This money may come from a variety of sources, such as a settlement in a client's case or money received from a client's debtor. The account is usually interest-bearing, which means that the money in the account can earn interest over time.

For example, if a lawyer settles a case for a client and receives a settlement check, the lawyer would deposit the money into the client trust account. The lawyer would then use the money to pay any outstanding bills or fees related to the case before distributing the remaining funds to the client.

Another example would be if a client gives a lawyer money to hold for a future business transaction. The lawyer would deposit the money into the trust account and hold it until the transaction takes place.

These examples illustrate how a trust account is used to protect a client's money and ensure that it is used appropriately by the lawyer.

true-value rule | trust agreement

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TGM
18:39
@texaslawhopefully: alas, haven’t even gotten an interview (applied around thanksgiving)
18:39
Yeah I would delay as long as you have plausible deniability
TGM
18:40
I actually do have a transcript issue that registrar needs to resolve, should I say that
TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
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