Do You Need an IOLTA Account?
Issues that determine whether an account will generate net interest are:
- Interest rate paid on the account
- Amount of service fees charged on the account*
- Minimum balance requirements on the account
- Average daily balance in the account
* Service charges on IOLTA accounts are billed directly to, and
are paid by, the
Texas Access to Justice Foundation and may not
appear on attorneys' bank statements.
See also:
Instructions on opening an IOLTA
account
IOLTA Notice Form
Financial considerations of maintaining separate
client accounts
"A Lawyer's Guide to
Client Trust
Accounts"
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