The Interest on Lawyers Trust Accounts (IOLTA) is an innovative way to increase access to justice and to improve the justice system.  In 1990, the Michigan Supreme Court created Michigan’s IOLTA program.  Under Michigan Rules of Professional Conduct Rule 1.15, Michigan lawyers are required to deposit short-term or nominal funds of clients and third persons into IOLTA accounts. Interest generated on IOLTA accounts is paid to the Michigan State Bar Foundation and is an important source of funding for civil legal aid for low-income households in Michigan.

For a list of Frequently Asked Questions (FAQs), please see the Attorney IOLTA Guidelines Brochure which was approved by the Michigan Supreme Court.  It provides information about the guidelines regarding financial institutions offering IOLTA accounts.