The Trust Accountant’ s Handbook: A complete guide (Including 1 hour of Ethics)

Deborah J. Schaefer | Deborah J. Schaefer, CPA

Deborah Schaefer is a consultant specializing in the legal market. She has been retained by law firms of all sizes, assisting with the selection, implementation, training, and support of computer-based accounting and practice management systems. Deborah assists law firms in the US and the Caribbean. Many of the consulting engagements involve determining system requirements, managing the installation of new applications, training and support of legal accounting and practice management applications. Her services also include basic bookkeeping for law firms and business and practice management consulting.

Ms. Schaefer has been self-employed for the past 42 years. Prior to starting her own practice, she was employed by three of the national accounting firms. Her responsibilities included computer audits of large corporations as well as management consulting services. She was responsible for designing, programming, and implementing applications in many industries that involved asset tracking and performance measurements. Deborah is a Certified Public Accountant.

Over the years Ms. Schaefer has become certified on a wide range of products for the legal industry. Currently her certifications include the following software products: Soluno, ActionStep, Caret Software, NetDocuments, PCLaw, Time Matters, Amicus, Tabs 3/Practice Master, Clio, Quicken, Xero, CosmoLex, and Quickbooks. Ever-changing technology requires that Deborah stay current with new solutions and industry trends. Her continued dedication to the legal market makes her an invaluable resource to law firms of all sizes.

Tracy L. Kepler | CNA

Tracy L. Kepler is the Risk Control Consulting Director for CNA’s Lawyers Insurance Program. In this role, she designs and develops content and distribution of risk control initiatives relevant to the practice of law. She collaborates with the underwriting and claims teams to develop and execute strategies for the profitable growth of the program. Tracy lectures frequently at CNA-sponsored events and at state and local bar associations and national seminars hosted by industry-leading organizations. She also writes articles focusing on law firm risk control and professional responsibility issues.

Prior to joining CNA, Tracy served as the Director of the American Bar Association’s Center for Professional Responsibility (CPR), providing national leadership in developing and interpreting standards and scholarly resources in legal and judicial ethics, professional regulation, professionalism, client protection, professional liability and attorney well-being. Ms. Kepler has nearly 20 years of experience in attorney regulation as she served as an Associate Solicitor in the Office of General Counsel for the U.S. Patent & Trademark Office (USPTO), where she concentrated her practice in the investigation, prosecution and appeal of patent/trademark practitioner disciplinary matters before the Agency, U.S. District Courts and Federal Circuit, provided policy advice on ethics and discipline related matters to senior management, and drafted and revised Agency regulations. She also served as Senior Litigation Counsel for the Illinois Attorney Registration and Disciplinary Commission (ARDC), where she investigated and prosecuted cases of attorney misconduct.

Ms. Kepler has served in various volunteer capacities, including as President, on the Board of the National Organization of Bar Counsel (NOBC), a non-profit organization of legal professionals whose members enforce ethics rules that regulate the professional conduct of lawyers who practice law in the United States and abroad. Ms. Kepler is currently an Adjunct Professor at American University’s Washington College of Law, Georgetown University Law Center and Loyola School of Law (Chicago) teaching Legal Ethics. Committed to the promotion and encouragement of professional responsibility and attorney wellbeing throughout her career, Ms. Kepler has served on the ABA’s Commission on Lawyers Assistance Programs, is a Board member of the Institute for Well-Being in Law (formerly the National Task Force on Lawyer Well-Being) and is an author of its Well-Being Report. She is also a Board Member of the Mindfulness in Law Society and the Vice Chair of the ABA IPL Section’s Attorney Well Being Committee. She is a graduate of Northwestern University in Evanston, Illinois, and received her law degree from New England School of Law in Boston, Massachusetts.

Session I – The Trust Accountant’s Handbook: A complete guide | 2:00pm – 3:40pm

• Rules
• Implementation of the rules

Break | 3:00pm – 3:10pm 

• Three-way reconciliation
• Solutions for trust accounting

Session II – Fiduciary Focus: Managing client money the right way | 3:40pm – 4:50pm

• Understand Fee Agreements & Responsible Billing Practices: Learn the ethical requirements surrounding client fee agreements under Rule 1.5, including what constitutes reasonable fees and best practices for transparency in billing
• Master Client Fund Management: Gain a comprehensive understanding of Rule 1.15, covering the proper handling, safeguarding, and accounting of client funds in trust accounts

Break | 4:10pm – 4:20pm

• Navigate Termination Procedures: Explore the financial obligations when ending client representation under Rule 1.16, including the return of unearned fees and client property
• Avoid Common Financial Pitfalls: Identify common mistakes and ethical violations in handling legal fees and client property and learn practical strategies for compliance with financial responsibilities