IOLTA

LSCV administers Virginia’s IOLTA (Interest On Lawyers Trust Accounts) program. If you are an attorney practicing in Virginia and do not participate in the program, we encourage you to do so today. Under the IOLTA program, interest earned on lawyers’ pooled client trust accounts is remitted by the banks directly to LSCV to fund the provision of civil legal services to the poor. A guidebook for attorneys and financial institutions can be obtained below. It takes about 3 minutes to fill out a Request to Establish an IOLTA account form that is then submitted to the bank and will take no longer than setting up any other kind of trust account. You can get that form below. If you have any questions about setting up an IOLTA account or want information about which banks pay the best rates and waive fees for IOLTA accounts, please give us a call at 804-782-9438 and ask for our IOLTA Coordinator.