What New York Attorneys Need to Know about IOLA, New York CLE 1.0

Gain a better understanding of when to use an IOLA account and the important statutory safeguards. To avoid the ethical prohibition on commingling, New York State attorneys holding funds belonging to clients or third parties must use attorney escrow accounts. IOLA accounts are the most common type of attorney escrow account, but many attorneys do not understand the relevant rules regarding account management, which puts them at risk of professional discipline. This presentation from the General Counsel of the IOLA Fund will help New York attorneys properly open and manage their IOLA accounts. The program will cover when to use an IOLA account and important statutory safeguards for attorneys, while also featuring tips and best practices from a leading ethics attorney to help New York attorneys avoid malpractice and disciplinary charges.