An IOLTA is an interest-earning trust account that is specifically used to hold money belonging to a legal professional’s clients. Using an IOLTA trust account to handle things likeretainers, settlement checks, and court fees ensures that the client's money is kept separate from the professional...
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In an evergreen retainer, on the other hand, the advance payment is replenished monthly and is never depleted.The evergreen retainer is placedinto an IOLTA (Interest on Lawyers’ Trust Account)1 . The attorney sends a separate, monthly invoice to the client to cover any costs incurred for ...