Resources
Frequently asked questions and client guides
General information about attorney paymaster arrangements. It is not legal advice; the terms of your engagement are governed by your paymaster agreement.
FAQs
Common questions
What does a paymaster actually do?+
A paymaster is a neutral third party that receives transaction funds, holds them, and pays them out to the parties entitled to them once the agreed conditions are met. When the paymaster is an attorney, the funds sit in a trust account governed by professional conduct rules.
Where are my funds held?+
In an attorney trust (IOLTA) account at a U.S. bank. Client funds are held separately from the firm's operating funds and are tracked in a sub-ledger specific to your transaction.
Who can authorise a disbursement?+
Only the release conditions written into the signed paymaster agreement. If the parties want to change beneficiaries, amounts or timing, that change is documented and confirmed before any wire is sent.
How long does a disbursement take?+
Once release conditions are satisfied and beneficiary details are verified, wires are sent the same banking day where possible. Cut-off times, international correspondent banking and holidays can add a day or more.
How do you protect against wire fraud?+
Beneficiary banking details are verified through an independent channel rather than accepted from email alone, and changes to previously provided instructions are treated as a red flag until confirmed directly.
What are your fees?+
Fees depend on the size and complexity of the transaction and the number of beneficiaries. They are agreed in writing in the paymaster agreement before funding.
Can I see the ledger for my transaction?+
Yes. Approved parties are invited to a secure portal showing the wires in and out on their transaction, the current balance and a downloadable statement. Access is limited to your own transaction.
Does the portal move money?+
No. The portal is a record of wires that already occurred at the bank. It cannot initiate a payment.
Do you work with parties outside the United States?+
Yes. International counterparties frequently use a U.S. attorney trust account as neutral ground. Additional identity and source-of-funds documentation is typically required.
Does engaging the firm as paymaster make you my lawyer?+
Not necessarily. The paymaster engagement is defined by its own agreement, and the firm's role in it is neutral as between the parties. Any separate legal representation would be documented separately.
Guides
Checklists for the parties
Preparing to fund
- Confirm the exact amount and currency to be wired.
- Request the trust account wire instructions directly from the firm.
- Send funds from an account in the payer's own name where possible.
- Include the transaction reference on the wire.
Preparing to be paid
- Provide full legal name and address as held by your bank.
- Provide bank name, account number, routing/SWIFT and any intermediary bank details.
- Complete the applicable tax form (W-9 or W-8BEN).
- Expect a verification call before your first payment.
Documents commonly requested
- Government photo identification for each individual.
- Formation documents and beneficial ownership for entities.
- The underlying contract, invoice or fee agreement.
- Source-of-funds documentation on larger transactions.