For how long must a lawyer keep records of deposits, withdrawals, and disbursements related to the practice?

• A. 7 years
• B. 3 years
• C. 1 year
• D. Indefinitely

Answer: (A)

Retaining client trust accounting records for a seven-year period provides an ongoing, reliable trail for all deposits, withdrawals, and disbursements. This ensures accountability and allows the firm, clients, or regulators to reconstruct the handling of funds long after a matter closes. The seven-year span is chosen to cover potential disputes and disciplinary inquiries that may arise well after the matter ends, giving enough time for claims to surface and be investigated. Shorter timeframes risk losing important financial history, and indefinite retention goes beyond the standard requirement. Therefore, seven years is the required retention period for these records.