The Interest on Lawyers Trust Account Scheme (IOLTA): Could the medical profession get away with fleecing patients in this way?

more+

less-

3/1/2012

Charles E. Rounds, Jr. Contact

Send

It is coming on a decade since the U.S. Supreme Court ruled that the IOLTA scheme constitutes a collective taking by the state of the property of clients. Still the scheme continues. Nothing has changed. Why? Charles E. Rounds, Jr. explains in the following two pieces how IOLTA implicates the 1st, 5th, and 14th Amendments to the U.S. Constitution and why it continues to thrive. The first piece is an excerpt from Loring and Rounds: A Trustee’s Handbook (2012). The second is a Cato Institute Policy Analysis ( No. 291).

LOADING PDF: If there are any problems, click here to download the file.

Published In: Civil Remedies Updates, Civil Rights Updates, Constitutional Law Updates, Law Practice Products & Services Updates, Wills, Trusts, & Estate Planning Updates

Send Report

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.