How often must trust accounts be balanced?

Trust accounts should be balanced every 30 days to ensure that all transactions are accurately recorded and that the account reflects the true state of the funds held in trust. Regular balancing is crucial for maintaining compliance with real estate regulations, as it helps to identify any discrepancies or errors in a timely manner. This practice not only safeguards the interests of the clients but also protects the licensee from potential legal issues or regulatory penalties that can arise from mismanagement of client funds. By balancing the trust accounts consistently every 30 days, it allows for effective oversight and accountability in the handling of trust money.