4 Dealing with trust accounts is a vital part of legal practice and is enforced by statutory legal standards on how trust monies are to be dealt with and accounted for. A failure to properly handle or deal with trust monies is grounds for professional misconduct or unsatisfactory professional conduct under the Legal Profession Uniform Law (LPUL) and ASCRs. Answer the following four sub-questions (each is worth 5 marks) 1. What are the three core elements of trust money? 2. Section 137 of the LPUL describes four types of monies that can be treated different to General Trust Monies. What are they? 3. Each of these four types of monies (as well as General Trust Monies) require numerous records to be kept. List three "source records" for each type of monies (i.e., you should mention a minimum of 12 in total). 4. What are the main obligations of a lawyer during a trust account investigation? You should refer to both the LPUL and the ASCRs