Keeping track of trust funds is an essential requirement. In order to effectively track trust funds, the firm uses a lugubrious record-keeping system to eliminate points of failure.

The general requirements imposed by the Law Society of Ontario are as follows:

1. Trust Account Usage: Trust accounts may only hold funds directly related to legal services. You must deposit all client funds (for future legal services, disbursements, or on behalf of clients) into a trust account within the next banking day. Funds for completed services must go into a general account.
2. Required Records: Client Trust Ledger (separate for each client); Trust Transfer Journal; Monthly Trust Reconciliations and Trust Comparisons; Fees Book and/or Chronological Billings File; Detailed deposit slips and duplicate cash receipts; and Form 9A and printed bank confirmations for electronic transfers
3. Record Retention: Maintain all trust records for six full years plus the current year, with all records being accurate, legible, and up-to-date.
4. Disbursement Rules: Trust funds may only be disbursed for specific purposes (client payments, expense reimbursements, fees after billing) and must be initiated in writing with proper documentation.
5. Additional Requirements:

• Must notify LSO in writing when opening/closing trust accounts
• Must implement client identification and verification procedures (By-Law 7.1)
• Must use appropriate cybersecurity measures to protect trust accounts
• Must separate credit/debit card payments (retainers to trust, billed fees to general account)

The workflows for trust accounting that comply with the above rules are detailed on this page.

1. This firm does not hold client funds in trust unless those funds are being used to settle litigation, secure costs for litigation, or make some other payment.
2. This firm does not accept cash as a valid form of payment. Ever.
3. Credit card payments to trust accounts are a last resort.
4. This firm does not accept checks to trust accounts. Certified funds must be provided.
5. All checks, certified checks, and deposit slips must be scanned and uploaded to Paperless. Checks that are being returned to clients because they are not accepted must be marked “NOT ACCEPTED”, scanned with this annotation, and returned to the client.
6. If a client insists on paying into trust with cash or a check, they are no longer a client of this firm.
7. Valid forms of payment to trust are: e-transfer; wire transfer; certified check; or (last resort) credit card.

Trust record keeping displaces all other work. If trust record keeping becomes difficult or is in any way interrupted by other work, that other work takes a lesser priority.

Trust record keeping must be completed immediately after a trust transaction is completed.

All trust accounting documents must be uploaded to Paperless. We do not keep paper records; records are maintained in Paperless.

If a document must be scanned, it must subsequently be uploaded to Paperless.

When a trust accounting document is uploaded to Paperless, it must assigned the following attributes:

• Document type: Trust accounting
• Tags: trust document
• Correspondents: A.P.Strom & Associates

These tags will enable quick recall of documents and full-text search of our trust accounting documents.

ID verifications must be uploaded to Paperless and assigned the following attributes:

• Document type: ID verification
• Tags: ID, FIRM-ADMIN
• Correspondents: Treefort