IOLTAInterest on Lawyers' Trust Accounts
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Parker said the ruling should not alarm those who represent debtors in bankruptcy cases and are paid sums in contemplation of legal services being rendered, which they then deposit in IOLTA accounts pending those legal services and if required court approval of applications for compensation.
resulting from an IOLTA and appropriated through state regulation is not
The majority of Nevada's IOLTA funds are awarded to organizations with programs that provide direct, legally-related services to the poor, victims of domestic violence, senior citizens, children protected by or in need of protection by the juvenile court, and other persons who may be denied access to justice for other reasons.
percent drop in IOLTA funds between 2007 and 2009); Need a Lawyer?
decimated the Interest on Lawyers Trust Account (IOLTA) programs that
deal with fee disputes, (61) IOLTA and lawyer trust account regulation
The trust accounts--called IOLTA, Interest on Lawyers Trust Accounts--are intended to keep client funds separate from a lawyer's personal funds and, according to, the interest they earn is used "without taxing the public, and at no cost to lawyers or their clients ...
With the IOLTA program, instead of taxing the public or depending on donations, interest from lawyer trust accounts is pooled to provide civil legal aid to the poor and support improvements to the justice system.
The respondent deposited the check into his IOLTA account and again intentionally misused his client's funds for his own purposes.
Lawyers' Trust Account (IOLTA) program--created and operated by the
Only if the account is noninterest-bearing (or is an IOLTA) is deposit insurance unlimited.
state-based IOLTA (Interest on Lawyers' Trust Accounts) programs.