Compare IOLTA Account

An Interest on Lawyer Trust Accounts (IOLTA) is used by attorneys to hold client funds. The interest earned on the account is used to fund legal aid services and other public interest programs.

Advantages of IOLTA Accounts

• Helps support legal aid and public interest programs.
• No fees for the attorney managing the account.
• Interest rates are typically lower, but the account serves a public good.

Disadvantages of IOLTA Accounts

• Interest earned is not available to the account holder.
• May have limitations on account usage.
• Requires adherence to legal and ethical guidelines.