Wisconsin attorneys' banking relationships matter.

WisTAF

 

The simplest way to support IOLTA’s mission is to maintain your IOLTA account at a Prime Partner financial institution, which pays interest rates that are at least 0.50% higher than required under the Wisconsin Supreme Court’s IOLTA interest rate comparability requirement. The additional interest results in more funding for civil legal aid in communities throughout Wisconsin.

 

 

Managing your client trust account

Lawyers have fiduciary obligations to safeguard and account for the funds and property of clients and others in their possession. A trust account must be maintained to hold the funds of clients and third parties that come into a lawyer’s possession in connection with a representation.

Examples of funds which must be placed in trust accounts include:

  • Personal Injury Settlements
  • Divorce Settlements
  • Real Estate Escrows and Closing Proceeds
  • Advanced Fees for legal services
  • Cost Advances

Please see the Wisconsin Office of Lawyer Regulation (OLR) website for more information on how to manage your trust account.

E-banking Information
On April 4, 2016, the Wisconsin Supreme Court repealed and re-created SCR 20:1.15-Safekeeping property; trust accounts and fiduciary accounts, and amended SCR 20:1.0, SCR 20:1.5 and SCR 22.39, effective July 1, 2016. The changes expanded the use of electronic transactions in trust and fiduciary accounts beyond the current limits of accepting payments for legal fees and costs and collecting debts. For more information regarding e-banking requirements, please contact the Office of Lawyer Regulation at 877-315-6941 x2 or see OLR's instructions 
here. 


For questions specific to managing your trust account, please contact the Wisconsin Office of Lawyer Regulation (OLR):

110 East Main Street, Suite 315
Madison, WI 53703-3383
Phone: (877) 315-6941, option 2
Fax: (608) 267-1959


 

UPCOMING MEETINGS & EVENTS
August 28, 2020
Finance Committee Teleconference
September 8, 2020
Grants & Evaluation Committee Meeting
September 25, 2020
Executive Committee Teleconference
October 9, 2020
WisTAF Board Meeting
WHAT'S NEW
WisTAF has posted materials for the 2021 Direct Legal Services and Pandemic Response Grant Application
WisTAF has posted materials for the 2019-20 DVSA Annual Report
WisTAF welcomes Bank of Sun Prairie as “Prime Partner” in supporting justice for all
Now Available: WisTAF’s 2020-21 Domestic Violence & Sexual Abuse Legal Services State Appropriation Grant Application Materials
WisTAF Invests in Services and Projects to Help People Resolve Their Legal Problems

More...

PRIME PARTNER SPOTLIGHT

As a Prime Partner since 2010, Bank Five Nine goes above and beyond IOLTA participation requirements by paying additional interest on its clients' IOLTA accounts — helping to expand access to civil legal services in Wisconsin. Bank Five Nine's participation reflects an admirable commitment to justice for all in Wisconsin.


Contact us
WisTAF
4600 American Parkway, Suite 104, Madison, WI 53718
Phone: 608.257.6845 or 877.749.5045 (toll-free)
Email: service@wistaf.org

Board & Staff
WisTAF
Board of Directors
WisTAF
Rebecca Murray, Executive Director
WisTAF
Tehmina Islam, IOLTA Program/Office Manager
WisTAF
Carlos Arenas, Program Manager
WisTAF
Benson Gardner, Communications and Development Manager
WisTAF

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