IOLTA
Are you an attorney in private practice who receives client funds to be held in trust for short periods of time?
If YES, then Lakeside can work with you to open an Interest on Lawyer Trust Account (IOLTA) which is then pooled to provide legal aid to those who cannot afford it.
- Conveniently manage your clients’ funds and maintain accurate record keeping
- Meet compliance requirements
- No tax implications
- Earn a competitive, tiered interest rate
- No minimum balance requirements
- Low $10 monthly maintenance fee
Lakeside Bank submits interest earnings each month to the Lawyers’ Fund of Illinois.
Lakeside is proud to be an IOLTA friendly institution. With our minimal service charge and competitive interest rate, we can make a greater impact on the funds available for legal services programs for the poor, continuing our dedication to giving back to the communities we serve.
