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On April 4, 2016, the Wisconsin Supreme Court repealed and re-created SCR 20:1.15-Safekeeping property; trust accounts and fiduciary accounts, and amended SCR 20:1.0, SCR 20:1.5 and SCR 22.39, effective July 1,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
May 4, 2021
Grants & Evaluation Committee Meeting
May 26, 2021
Executive Committee Meeting
June 9, 2021
WisTAF Board Meeting
August 25, 2021
Finance Committee Meeting
September 14, 2021
Grants & Evaluation Committee Meeting
October 1, 2021
Executive Committee Meeting
October 15, 2021
WisTAF Board Meeting
WHAT'S NEW
WisTAF is accepting Provisional 2021-22 DVSA Grant Applications
Statement about Civil Legal Aid Budget Proposals

More...

PRIME PARTNER SPOTLIGHT

Our recent Prime Partner, CIBC Bank, 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. CIBC Bank'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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