Frequently Asked Questions

ATTORNEY FAQ

What is IOLTA?
IOLTA is an acronym for "Interest on Lawyers' Trust Accounts," a program which collects and uses interest from certain attorney trust accounts for charitable law-related activities.
What types of client funds are held by lawyers?
If IOLTA accounts hold enough money to earn interest, why doesn't the client receive the interest?
Are there IOLTA programs in every state?
Who created the Massachusetts IOLTA program?
The program was created in 1985 by the Supreme Judicial Court, acting under its constitutional power to regulate lawyers and the practice of law.
How does the IOLTA program work?
Why don't the recent advances in data processing technology make it possible to track even the smallest amounts of money and compute the interest?
What are attorneys required to tell their clients?

MAIOLTA.ORG

The Massachusetts IOLTA Committee
Seven Winthrop Square, 3rd Floor 
Boston, MA 02110-1245

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