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opening a trust account

opening a trust account

Opening a Trust Account

A lawyer must obtain authorization from the Society prior to opening and operating a trust account.  

Steps required for trust account authorization: 

  • Review Regulation 4.10 “Operating a Trust Account”; 
  • If required, successfully complete the Society’s Trust Account Assessment; 
  • Confirm that appropriate arrangements, in writing, have been made with the financial institution to comply with the requirements of Section 30 of the Act; and 
  • Submit a Lawyer’s Certification. 

To receive a copy of the Society’s trust account opening package and a link to the online assessment, submit a Request Permission to Operate a Trust Account Form.

After opening the account, the lawyer is required to provide the particulars of their trust account(s) to the Society’s Trust Assurance Administrator.  

After lawyers have successfully completed the requirements for operating a trust account, they will receive a confirmation email from the Society permitting them to operate their trust account.  

Trust Account Assessment 

The Society developed the Trust Account Assessment to assess a lawyer’s knowledge and ability to apply the requirements of the Trust Account Regulations. The assessment takes into consideration the competencies a lawyer should demonstrate to operate a trust account.  

The assessment is administered through an online platform and includes multiple-choice questions and a simulation question. Lawyers have seven days to complete the Assessment. 

For a link to the online trust account assessment submit a Request Permission to Operate a Trust Account Form.

Barristers’ Gowning Room is Open

The Barristers’ Gowning Room is open at the Law Courts for lawyers who are attending court or who have made a library appointment. Please contact the Society’s Library staff at nsbslib@nsbs.org or call (902) 425-2665 or connect with the Sheriffs upon entry to the courthouse to receive the room access code.

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