Rachelle Cohen will speak to the Beverly Hills Bar Association on May 15, 2023, via Zoom, on “IOLTA/CTAPP: The Dos and Don’ts of Handling Others’ Funds.”

Joining Rachelle in the program will be Erin Joyce, of Erin Joyce Law, PC.

The program, for which registration is available online, will review lawyers’ ethical obligations in holding funds belonging to others. 

It will cover the guidance and pitfalls in trust accounting and the new mandatory Client Trust Account Protection Program. In light of the recent failure of two national banks, it will also include considerations of banking stability.

IOLTA stands for Interest on Lawyers’ Trust Accounts. California lawyers are required to place certain funds held for clients or others into IOLTA trust accounts. Interest or dividends earned by these accounts must be transferred to the Legal Services Trust Fund Program, which is used to fund legal services to indigent people, seniors, and people with disabilities.

CTAPP, the Client Trust Account Protection Program of the State Bar, establishes rules, best practices, and reporting requirements for the registration and administration of trust accounts.

The May 15 program is presented by BHBA’s Law Practice Management & Technology section.

Rachelle’s areas of practice include legal ethics consulting, business and real estate transactions, and estate planning. She speaks and writes frequently about business entities and transactions and legal ethics.