IOLTA FAQ

Common Questions About IOLTA

• WHAT DOES IT COST ME?
  • Absolutely nothing, no fees, no dues, no costs whatsoever.

• DO I TRANSFER MY TRUST ACCOUNT?
  • No, the Foundation, or your financial institution, does all the legwork needed to transfer your non-interest bearing trust fund to a NOW account.  The only administrative output required from your staff is the completion of a simple two-part form.

• WHERE IS THE INTEREST GOING?
  • Toward many thing, including cost-free legal services to the poor, to victims of domestic violence, to children in the courts, and for law related education.

• WHY SHOULD I JOIN IOLTA?
  • Because this program gives members a chance to provide law related and charitable assistance to those who cannot afford it.  IOLTA reflects very positively on the legal profession’s efforts to support needed projects in the community.