Mixing personal finances with your law firm’s books or trust account is one of the most common and dangerous mistakes law firm owners can make. What starts as an innocent overlap, for example paying a bill here, using a firm card there, can quickly spiral into serious ethical violations, accounting disasters, and even potential legal repercussions. Without the proper systems in place, you risk undermining the credibility of your firm, losing the trust of clients, and facing hefty penalties.
In this critical webinar from Practice42, Keep Your Personal Life Out of Your Law Firm Books (and Your Trust Account!), Audrey Ehrhardt, Esq., CBC, and Katie Lilly, CPA, will guide you through the essential steps to keep your personal and business finances separate and compliant. They will dive deep into this conversation to ensure you have the knowledge you need to stay protected including discussions on:
- Understanding the importance of financial separation. Learn why mixing personal and business finances can lead to disaster for your firm.
- Avoiding trust account violations. Ensure your trust account is managed properly to avoid legal repercussions and maintain client trust.
- Evaluating your financial help. Understand whether the help you have hired for your law firm’s books truly understands the unique needs and requirements of legal accounting.
- Implementing systems that protect you. Set up the right financial management practices to safeguard your law firm from self-created risks.
- Spotting and fixing common mistakes. Identify where personal life might be creeping into your business finances and how to correct these issues before they become major problems.
You won’t want to miss this free training on (RESCHEDULED FOR HURRICANE) Tuesday, October 22nd, at 12 pm ET. Space is limited! Register now to secure your spot and protect your practice!
