What notice will lawyers and law firms have to give to their clients about IOLTA?
Lawyers are not required to give any notice to clients whose deposits are nominal in amount or to be held for a short period of time. However, the Supreme Court, in its opinion establishing IOLTA, said that “many, if not most, lawyers will, as a matter of good client relations and courtesy, want to notify their clients of their participation in this program in some manner, and we encourage them to do so.
