legal aid

More Cuts Threaten Legal Services for the Poor

Apr 3, 2012

The most recent State budget slashed funding for legal services for the poor. Last week, the House passed a bill that would put even more aid at risk.

The legislation would change how something called IOLTA works.

IOLTA stands for ‘Interest on Lawyers Trust Accounts’.

When a client hands money over to a lawyer for a short period of time, say, while a real estate deal is being closed, the lawyer puts the money into a pooled account. That account earns interest.