Designed for law firms with nominal or short-term client funds whose interest provides funding for legal aid services to low-income individuals and families. Attorneys deposit short-term escrow funds for clients into an IOLTA and the Michigan State Bar Foundation funds legal aid and pro bono counsel with the interest earned.
- We manage distribution of interest
- We provide automatic proof of payment and receipts for business records and tax reporting
- Interest earned supports charitable purposes named by the Michigan Supreme Court
- Helps satisfy regulatory requirements
- No minimum balance requirements
- Yes, but remitted to the Michigan State Bar Foundation - view tiered rates
Minimum Deposit to Open
Monthly Service Fee
Fees may reduce earnings on the account.