Lainie Hammond

IOLTA Trust Account Compliance
Attorney


Helping lawyers & LLLTs with IOLTA Compliance, Audits, Education, and Overdraft Representation

IOLTA Trust Account Overdrafts


Trust account overdrafts are an automatic WSBA grievance.
          Financial institutions notify the Bar of all overdrafts, whether paid or not.


IOLTA violations are one of the most frequent causes of attorney discipline and disbarment.

          Your response determines whether the issue is dismissed or moved on for further action. 


Nothing is more frightening than an IOLTA trust account overdraft.  
          We can help you respond proactively to your responsibilities.



Common IOLTA Violations


Failure to maintain proper bookkeeping records is the most common violation.  

          The IOLTA record keeping rules are a strict liability standard.


Failure to reconcile client ledgers is the second most common violation.

          Do you know what client ledgers are, and do you reconcile them every month?  


Over or under funded IOLTAs signal bigger problems with your record keeping and your practice.

          Some lawyers keep a "cushion" as a safety measure.  This says "I have no idea how to maintain accurate IOLTA records."