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 things, 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.