Guidelines for IOLTA

The proper management of clients funds and other property is required by the Rules of Professional Conduct and Administrative Rule 24. Lawyers must be aware of the rules regulating lawyer trust accounts and take proper precautions to avoid any disciplinary action. The guidelines were developed to facilitate the efforts of attorneys establishing trust accounts or revising their present trust accounting system. These guidelines summarize the requirements of the Rule 1.15 of the Rules of Professional Conduct and provide some helpful tips on lawyer trust accounts and the handling of the client property.