What are Trust Requests?

NOTE

Trust requests are currently being piloted for New Zealand customers only. If you want to be considered for the pilot, please contact Actionstep support.

What are trust requests?

As we all know trust accounts are regulated no matter what country your lawfirm operates in.

In most jurisdictions there are regulations surrounding who is allowed to operate the trust account and what authorities are required in terms of receiving and withdrawing of trust funds.

Actionstep's trust request product feature gives a company more control over the administration of their trust account. The trust request feature enables anyone in the lawfirm (subject to permissions) to request a trust transaction, upload any specific authorities required and have it approved by authorised person (who has authority to approve such trust transactions). The relevant trust transaction can then be acted upon and an electronic audit trail of the approval process is available for any auditors.

The Trust Request feature will enable a lawfirm to request approval to:-

• Make payments from a trust account to an external party (for example, settlement funds in relation to a conveyancing matter for payment to the other parties lawyer)
• Pay Invoice – payment of an internal invoice from a trust account
• Receive funds – Request funds from a customer into the trust account (for example, to begin work on a file where trust funds are required prior)
• Transfer funds – Request a transfer to different matter on behalf of the client or to a different trust account (for example, transferring trust funds from one person's trust account to a different persons trust account) – in development