Available in:

OnDemand Course
MP3 Download

What New York Attorneys Need to Know about IOLA

Gain a better understanding of when to use an IOLA account and the important statutory safeguards.

To avoid the ethical prohibition on commingling, New York State attorneys holding funds belonging to clients or third parties must use attorney escrow accounts. IOLA accounts are the most common type of attorney escrow account, but many attorneys do not understand the relevant rules regarding account management, which puts them at risk of professional discipline. This presentation from the General Counsel of the IOLA Fund will help New York attorneys properly open and manage their IOLA accounts. The program will cover when to use an IOLA account and important statutory safeguards for attorneys, while also featuring tips and best practices from a leading ethics attorney to help New York attorneys avoid malpractice and disciplinary charges.

65 minutes
Course Exam
Certificate of Completion
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

The Role of the IOLA Fund and Attorney Escrow Account Regulation

  • IOLA Fund Mission
  • Lawyers Fund for Client Protection
  • NYS Attorney Grievance Committees

Appropriate Use of an IOLA Account

  • Definition of Qualified Funds
  • When to Use a Non-IOLA Escrow Account
  • Statutory Hold-Harmless Provision

IOLA Account Management

  • Proper IOLA Account Opening and Titling
  • IOLA Account Features
  • Exception to the Commingling Rule

Common Pitfalls

  • Opening an Account
  • Changing Banks and Bank Mergers
  • Multi-Jurisdictional Practice Issues

Practical Tips From an Ethics Attorney

  • Account Management
  • Retainer Fees
  • Missing Client Funds
  • Deceased Signatory
  • Account Security
  • Proper Disbursements

Question and Answers

Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, New Hampshire, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on September 13, 2022.

Call 1-866-352-9540 for further credit information.

  • NJ CLE 1.3 including Ethics 1.3
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit. Of these, 1.3 qualify as hours of credit for ethics/professional responsibility.
     
  • NY CLE 1.0 including Ethics and Professionalism 1
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Ethics and Professionalism for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for credit for established attorneys only. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.0 including Ethics 1
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours including 1.00 hours of ethics, professionalism or substance abuse CLE credit.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE credit.

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • NY CLE 1.0 including Ethics and Professionalism 1
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Christine Fecko

Christine Fecko

IOLA Fund of the State of New York

Christine M. Fecko

  • General Counsel of the IOLA Fund of the State of New York since 2011
  • An officer and member of the Board of Directors of the National Association of IOLTA Programs and serves on the New York State Bar Association’s (“NYSBA”) President’s Committee on Access to Justice, the NYSBA Committee on Legal Aid, the New York City Bar Association’s Pro Bono and Legal Services Committee, the New York City Bar Association’s Ethics Committee, and the Technology Working Group of the New York State Permanent Commission on Access to Justice
  • Former Chair of the New York City Bar Association’s Committee on Legal Services for Persons of Moderate Means
  • Clerked for Chief Judge F.A. Little, Jr. of the United States District Court for the Western District of Louisiana
  • Published author
  • J.D degree from the New York University School of Law and B.A. degree from SUNY Binghamton
Deborah Scalise

Deborah Scalise

Scalise & Hamilton P.C.

Deborah A. Scalise

  • Member of SCALISE & HAMILTON, PC in Scarsdale, New York, and a founding member of its predecessor Scalise & Hamilton LLP
  • Previous Deputy Attorney General in Charge of Public Advocacy for the Westchester Region and prior to that, she was the Deputy Chief Counsel to the Departmental Disciplinary Committee for the First Judicial Department where she litigated complex disciplinary matters
  • J.D degree from Brooklyn Law School; B.A degree from John Jay College of the City University, and Master of Arts Degree from the John Jay College of the City University of New York
  • Previously appointed to the NYS Office of Court Administration CLE Board by Chief Judge Janet DiFiore serving as a member for three years
  • Testified before the 2015 OCA State Commission on Professional Discipline regarding attorney mental health issues
  • Member of various associations and a published author
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 409075
Published 2022
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!