Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Josh J.T. Byrne Josh J.T. Byrne.

It is clear that many attorneys do not have even the most basic understanding of what an IOLTA account is. Misuse of IOLTA is an element in many inquiries and complaints brought by Disciplinary Counsel and in legal malpractice actions. Attorneys frequently do not know how IOLTA accounts work, what funds must go into an IOLTA account, and what funds must not go into an IOLTA account. Attorneys are also frequently unaware of their obligations with respect maintaining a ledger of the IOLTA accounts and performing monthly reconciliations.

Want to continue reading?
Become a Free ALM Digital Reader.

Benefits of a Digital Membership:

  • Free access to 3 articles* every 30 days
  • Access to the entire ALM network of websites
  • Unlimited access to the ALM suite of newsletters
  • Build custom alerts on any search topic of your choosing
  • Search by a wide range of topics

*May exclude premium content
Already have an account?

Law Firms Mentioned


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.