Operation of a Trust Account

  1. What is a trust account?
    A trust account is a separate bank account used by law firms, including EXEO, to securely hold funds deposited by clients until they are applied to cover legal fees and expenses related to the services provided, including government fees required for filing applications with immigration authorities. Funds held in a trust account remain the property of the client until invoiced or used. The management of trust accounts is subject to strict standards set by relevant professional authorities (e.g., Barreau du Québec, Law Society of Ontario, New York State Bar Association, etc.).
  2. Why are funds deposited into a trust account?
    Funds deposited into a trust account ensure that the amounts required for legal services are available when invoices are issued, while also safeguarding unused amounts until they are applied to rendered services. They also enable EXEO to pay government fees on your behalf in a timely manner.
  3. When does EXEO withdraw funds from the trust account?
    EXEO withdraws funds from the trust account only after the corresponding services have been provided and invoices issued, or when government fees have been paid on your behalf by EXEO. Withdrawals are made in line with the progress of the work and payment of government fees.
  4. I sent funds to EXEO’s trust account. Why did I still receive an invoice?
    Even though you deposited funds into the trust account, we are obligated to send you an invoice detailing the progress of the work. If the trust funds are sufficient to cover the invoice, it will display a balance of $0, indicating that the fees were paid using the available funds. For government fees, you will receive proof of payment made by EXEO on your behalf, along with a receipt showing the remaining balance, if applicable.
  5. What happens if the trust account balance is insufficient?
    If the trust account balance is insufficient to cover an invoice, you will receive an additional invoice for the remaining balance, payable upon receipt. Regarding government fees, EXEO does not advance funds for filing immigration applications. The full amount of the fees must be received before EXEO can process the payment on your behalf and submit your immigration application.
  6. What happens to the remaining funds in the trust account at the end of the mandate?
    If any funds remain in the trust account after the full completion of legal services, the unused balance will be refunded to you.