IOLTA & client trust accounting foundations

Foundations · Free reading guide

Begin by distinguishing money belonging to the firm from money held for others. IOLTA terminology and client-fund obligations need to be understood in the context of the rules that apply to the practice.

Build your understanding

• Identify the jurisdiction and governing rules with the responsible attorney.
• Map operating, trust, and other relevant accounts.
• Document who can authorize transactions and resolve classification questions.

A practical starting exercise

Create a one-page map of this workflow using fictional examples. List the source information, the person who prepares it, the reviewer, and the question each step should answer. Mark any point where responsibility or evidence is unclear.

Bring those open questions to your supervisor or adviser. The exercise is intended to organize a conversation; it is not permission to change account treatment, move money, or replace an established control.

This is a reading topic, not a video course. It does not issue a completion certificate or professional credit.