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Can lawyers continue to invest client fund monies on behalf of clients?

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Can lawyers continue to invest client fund monies on behalf of clients?

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Absolutely. Whenever possible, lawyers should continue to invest client funds. The only change IOLTA makes is to require that those funds which cannot be invested on behalf of clients be placed in interest-bearing accounts, with the interest paid to the IOLTA Committee which distributes it to the three charitable entities. Large short-term deposits or modest amounts to be held for a significant period of time will continue to be invested in interest-bearing accounts for the client’s benefit. The decision as to which account to use rests, as always, in the sound discretion of the lawyer.

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