Interest on Lawyers’ Trust Accounts program
E548434
The Interest on Lawyers’ Trust Accounts program is a legal funding mechanism that pools interest from client trust accounts to support civil legal aid and justice-related services for low-income individuals.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
legal funding mechanism
ⓘ
public interest finance program ⓘ |
| aimsTo |
provide a dedicated revenue stream for civil legal aid
ⓘ
reduce the justice gap for low-income people ⓘ |
| appliesTo | lawyers who hold client funds in trust ⓘ |
| benefitsEntity |
civil legal aid organizations
ⓘ
justice-related service providers ⓘ |
| contributesTo |
expansion of legal services for underserved communities
ⓘ
funding stability for civil legal aid ⓘ |
| ensures | interest on nominal or short-term client funds is used for public purposes ⓘ |
| fundingModel | pooled interest from lawyers’ trust accounts ⓘ |
| fundsMayBeUsedFor |
legal aid training and support services
ⓘ
outreach and education about legal rights for low-income communities ⓘ technology and infrastructure for legal aid providers ⓘ |
| hasAcronym | IOLTA NERFINISHED ⓘ |
| hasBeneficiaryType |
alternative dispute resolution programs for low-income clients
ⓘ
court-based self-help programs ⓘ nonprofit legal aid organizations ⓘ |
| hasLegalBasisIn |
state statutes
ⓘ
state supreme court rules ⓘ |
| hasPurpose |
support civil legal aid
ⓘ
support justice-related services ⓘ |
| isAdministeredBy |
legal services trust fund programs
ⓘ
state bar foundations NERFINISHED ⓘ |
| isImplementedAt | state level in the United States ⓘ |
| isInfluencedBy |
attorney trust accounting rules
ⓘ
banking regulations ⓘ prevailing interest rates ⓘ |
| isPartOf | state-level access to justice initiatives ⓘ |
| isRelatedTo |
Interest on Trust Accounts programs
ⓘ
access to justice ⓘ client trust accounts ⓘ lawyer trust accounting ⓘ legal aid funding ⓘ |
| operatesInSector |
civil justice
ⓘ
legal services ⓘ |
| prohibits | lawyers retaining interest earned on pooled client trust funds ⓘ |
| requires | deposit of eligible client funds into interest-bearing trust accounts ⓘ |
| servesPopulation | low-income individuals ⓘ |
| supportsActivity |
legal aid for consumer and benefits issues
ⓘ
legal aid for disability and elder law issues ⓘ legal aid for domestic violence survivors ⓘ legal aid for family law matters ⓘ legal aid for housing matters ⓘ provision of free or low-cost legal services ⓘ |
| usesFundingSource | interest from client trust accounts ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.