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Minnesota IOLTA Accounts and Filing Fees: Where Should Client Cost Advances Go?
When a client pays legal fees and filing costs in the same transaction, it can be easy to treat the whole payment the same way. In Minnesota, that can be a mistake. Here’s how filing-fee advances should generally be handled and why they may belong in IOLTA even when the legal fee does not.
IOLTA vs. Operating Account: How Lawyers Should Handle Fixed Fees
Law firms that charge flat or fixed fees need to know when client payments belong in an IOLTA trust account and when they may be deposited into operating. Learn how state ethics rules, fee agreements, refundability, and when a fee is earned can affect the proper treatment of advance legal fees