Interest on Lawyers’ Trust Accounts (IOLTA) is a method of raising funds to increase access to justice for low-income individuals, provide civil legal aid to the poor, promote public understanding of the law, and improve our justice system.
When a lawyer receives funds that belong to a client or a third party, the lawyer must hold those funds in a trust account and keep it separate from the lawyer’s funds. When funds that need to be held in trust cannot earn more income than the cost of holding the funds, the money can be deposited in an IOLTA program account with the pooled interest going to the IOLTA program.
All 50 states, the District of Columbia, and the Virgin Islands, operate IOLTA programs. The Wyoming IOLTA program was established in 1989 by the Wyoming Supreme Court to help fund the unmet legal needs of Wyoming’s citizens. The Equal Justice Wyoming Foundation administers Wyoming’s IOLTA program and provides funding and support to legal aid service providers in the state through grants.
Lawyers and financial institutions seeking information about the Wyoming IOLTA program or how to establish an IOLTA program account may contact the Equal Justice Wyoming Foundation by email or phone at 307-777-8383.
For IOLTA compliance questions, please contact Mark Gifford, Bar Counsel for the Wyoming State Bar, at 307-432-2106.