Get Iolta Certification - Oregon State Bar

There are three types of programs: Mandatory, in which all lawyers in the jurisdiction who maintain client trust accounts must participate. Opt-out, in which all lawyers participate unless they affirmatively choose not to participate. Voluntary, in which lawyers must affirmatively decide to participate.

Unearned money is kept in the trust account because it belongs to the client. When you earn those funds, they are yours and you may withdraw them.

Withdrawing Funds from an IOLTA Account to Pay Yourself Paying yourself from an IOLTA account is done when you earn the funds. You do not have to remove the earned money on a daily basis. However, you will want to keep accurate records (and notes) of your time spent and work performed.

IOLTA stands for Interest on Lawyers' Trust Accounts. This type of trust account is used by lawyers to responsibly hold client funds.

IOLTA stands for Interest on Lawyers' Trust Accounts. This type of trust account is used by lawyers to responsibly hold client funds.

Accounts that pool nominal and short-term deposits and pay the interest or dividends to the Legal Services Trust Fund Program are called “IOLTA accounts.” Interest and dividends generated from IOLTA accounts are used to fund legal services to indigent people, seniors and people with disabilities.

The interest earned from pooled IOLTA benefits nearly 100 nonprofit legal service organizations throughout California. IOLTA increases access to justice for individuals and families living in poverty and improves our justice system.

But unlike a trust account that is set up in the name of one particular client, an IOLTA account will hold money that has been retained from a number of different clients.