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Simple English definitions for legal terms

Interest on Lawyers' Trust Accounts

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A quick definition of Interest on Lawyers' Trust Accounts:

Interest on Lawyers' Trust Accounts (IOLTA) is a program that allows lawyers or law firms to put their clients' money into an account that earns interest. The interest earned is then used for charitable purposes, such as providing legal aid to people who cannot afford it. Almost all states have an IOLTA program, which can be voluntary or mandatory.

A more thorough explanation:

Interest on Lawyers' Trust Accounts (IOLTA) is a program that allows lawyers or law firms to deposit their clients' retained funds into an interest-bearing account. The interest earned on these accounts is then designated to charitable, law-related purposes, such as providing legal aid to the poor. Almost all states have either a voluntary or mandatory IOLTA program.

For example, if a lawyer is holding $10,000 of a client's money in a trust account, they can deposit it into an IOLTA account. The interest earned on this account will then be used to support legal aid programs for those who cannot afford legal representation.

IOLTA programs help to ensure that low-income individuals have access to legal services, which they may not be able to afford otherwise. By designating the interest earned on these accounts to charitable purposes, lawyers can contribute to the greater good of their community.

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
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im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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