Law Office Management Flashcards

What is an 'IOLTA account'?

Answer: A pooled interest-bearing trust account for client funds that generates interest for legal aid

An IOLTA (Interest on Lawyer Trust Accounts) account is a pooled trust account where attorneys hold small or short-term client funds, with the interest donated to fund legal aid programs.

What is 'electronic filing' (e-filing) in court practice?

Answer: The electronic submission of court documents through an online court portal

Electronic filing is the submission of court documents through the court's designated online system (such as PACER/CM-ECF for federal courts), replacing paper filing.

What is a 'case management system' in a law firm?

Answer: Software that organizes client files, deadlines, contacts, and case information

A case management system is practice management software that centralizes a firm's client files, deadlines, notes, contacts, documents, and billing in one platform.

What is the purpose of a 'file retention policy' in a law firm?

Answer: To establish how long client files must be kept and when they can be destroyed

A file retention policy establishes how long a firm must maintain closed client files before they can be destroyed, based on professional responsibility rules and applicable statutes.

What is a 'paralegal' and how do their duties differ from an attorney's?

Answer: A trained legal professional who assists attorneys but cannot give legal advice or represent clients in court

A paralegal is a trained legal professional who performs substantive legal work under attorney supervision but is prohibited from providing legal advice, setting fees, or representing clients in court.

What is 'billing write-off' in law firm accounting?

Answer: Reducing or eliminating billed fees that the firm decides not to collect

A billing write-off is the decision by a firm to reduce or eliminate amounts billed to a client, often due to client dissatisfaction, courtesy adjustments, or uncollectible amounts.