How should a trust account be maintained in terms of location?

A trust account should be maintained in terms of location by ensuring that depository accounts are not located in another state. This requirement is in place to promote accountability and ease of access for any regulatory oversight. Keeping trust accounts within the same state where the business operates ensures that local laws governing real estate transactions and trust funds are adhered to. Furthermore, it facilitates easier auditing and compliance checks by relevant authorities, which is crucial for maintaining the integrity and transparency of the handling of client funds.