Showing Tag: "iolta" (Show all posts)

Arizona IOLTA - Understanding IOLTA

Posted by Law Firm on Tuesday, August 7, 2012, In : Arizona IOLTA 
The Interest on Lawyers trust Accounts or much known as IOLTA, was developed by the Federal Government. The reason why they developed this amazing program is in order to generate some funds that can be utilized for rendering civil legal services to the needy. In order for the funds to be put in the IOLTA account, the client has to pay for the services of an attorney. The money paid to the attorney will then directly go to the IOLTA account, especially if it is a small amount, or if the attorn...

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The Good Thing About Colorado IOLTA

Posted by Law Firm on Tuesday, August 7, 2012, In : Colorado IOLTA 
Attorneys customarily accept funds from clients every now and then for safekeeping, whether it may be a payment for a legal work that is yet to be done or a money owed to a third party. If the money of the client is large enough to warrant an interest, it is deposited in a separate account. The interest earned from this account will be directly paid to the client. If Client’s money is small in amount and does not need to be held that long, it is deposited into a pooled interest-bearing acco...

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