In a law firm, a trust account error isn’t an adjustment; it’s a bar complaint. We keep client trust and IOLTA accounts reconciled and defensible, and we work through partner compensation, draws, and capital accounts as the partner roster changes. We also handle partner admissions and withdrawals, including buyout structuring and Section 736 payments, contingency fee timing and case cost treatment, cash versus accrual decisions and unbilled time, the qualified business income limits that apply to legal services, and multi-state exposure as attorneys practice across jurisdictions.
Law Firm and Legal Practice Advisory
Partnerships and professional corporations from solo practices through multi-partner firms. We understand trust accounting obligations and the partner economics that drive firm decisions.
Partner Economics and Trust Account Discipline
Talk to Someone Who Knows Law Firms
Work directly with experienced advisors who understand your industry and are committed to guiding your business through informed financial decisions.
Schedule a ConversationServices We Provide
Trust and IOLTA reconciliation
Partner compensation and capital accounts
Partner admissions, withdrawals, and Section 736 payments
Billing-rate and profitability analysis
Forensic support for litigation clients
FAQs
How often should trust accounts be reconciled?
At least monthly, three-way; bar rules in most states require it.
How are retiring partner payments taxed?
It depends on Section 736 classification; we structure before the agreement is signed.
Do you support attorneys’ clients?
Yes. Our forensic team supports matrimonial and commercial matters.