IOLTA
Interest on Lawyers' Trust Accounts — pooled accounts holding client funds, with interest funding legal aid.
IOLTA (Interest on Lawyers' Trust Accounts) is a program under which lawyers hold nominal or short-term client funds in pooled, interest-bearing trust accounts. The interest is remitted to a state foundation that funds legal-aid and access-to-justice programs.
Client funds must be kept separate from the lawyer's own funds (Model Rule 1.15). Misuse of trust funds is among the most serious disciplinary violations.