Lawyer Trust Accounts
Background on IOLTA
In existence since 1984, Arizona's IOLTA program is based on
Arizona Supreme Court Rule
43. The rule requires all lawyers receiving client funds in
Arizona, or in connection with representation of clients in
Arizona, to maintain an interest-bearing trust account to pool
client funds when the funds cannot otherwise earn enough interest
income for the client to be more than the cost of securing a
separate account. Learn more.
This information is intended as a tool to help Arizona attorneys
fulfill his or her ethical obligations to clients whose money and
other properties the attorney holds in trust. Even if you never
intend to handle cases that will require you to hold money or other
properties for clients, it's imperative that you understand these
obligations.
Interest from IOLTA in Arizona benefits programs of the Arizona
Foundation for Legal Services and Education, which fund legal
services for the poor and law related education for Arizona's
school children. Learn more.
Client Trust Accounting for Arizona Attorneys
This information is intended as a tool to help Arizona attorneys
fulfill his or her ethical obligations to clients whose money and
other properties the attorney holds in trust. Even if you
never intend to handle cases that will require you to hold money or
other properties for clients, it's imperative that you understand
these obligations. Learn more. Also
see Rule 43.
For Additional Information, phone the Trust Account Hotline
602.340.7305 or email IOLTA@azbar.org
These quick tips may be a good refresher or a simple way to
deepen your understanding of trust account obligations.
Another helpful tool in managing your trust account is using a
checklist for disbursing against uncollected funds.
In depth trust account manual covering the rules and
requirements of maintaining an Arizona trust account.
IOLTA Enrollment Form
An online IOLTA enrollment form and instructions are available
on the Arizona Foundation for Legal Services & Education Web
site. They are also accessible here.
Interest from IOLTA (Interest On Lawyers Trust Accounts) in
Arizona benefits programs of the Arizona Foundation for Legal
Services and Education, which funds legal services for the poor and
law related education for Arizona's school children.