I have $2,000 in my IOLTA account that I cannot account for any longer and it’s been there many years. Can I take that money?

First, every lawyer should know that they are not allowed to hold clients’ monies in their IOLTA account for long periods of time, particularly if the funds are a substantial amount, i.e., which means more than $1,000. Any such funds should have been placed in an interest-bearing escrow account long ago, see Pennsylvania Rules of Professional Conduct 1.15.

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