Lawyer & LLP FAQs - COLTAF | Colorado Lawyers Trust Foundation

FAQ: My firm is headquartered in another state, but we have an office in Colorado. Can we deposit Colorado-client funds in our out-of-state IOLTA account?
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FAQ: My firm is headquartered in another state, but we have an office in Colorado. Can we deposit Colorado-client funds in our out-of-state IOLTA account?

FAQ: My firm is headquartered in another state, but we have an office in Colorado. Can we deposit Colorado-client funds in our out-of-state IOLTA account?

Answer: No. Any client or third-party funds held in [...]

By Jordan Bates-Rogers|2026-05-26T13:14:13-06:00May 26, 2026|Lawyer & LLP FAQs|0 Comments

FAQ: How often must I reconcile my COLTAF account?
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FAQ: How often must I reconcile my COLTAF account?

FAQ: How often must I reconcile my COLTAF account?

Answer: A COLTAF account must be reconciled at least [...]

By Jordan Bates-Rogers|2025-10-27T18:18:54-06:00August 15, 2025|Lawyer & LLP FAQs|0 Comments

FAQ: When is it permissible to deposit my own funds or my firm’s funds into my COLTAF account?
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FAQ: When is it permissible to deposit my own funds or my firm’s funds into my COLTAF account?

FAQ: When is it permissible to deposit my own funds or my firm’s funds into my COLTAF account?

Answer: It is unethical for a lawyer, LLP, or [...]

By Jordan Bates-Rogers|2025-10-23T20:11:44-06:00August 15, 2025|Lawyer & LLP FAQs|0 Comments

FAQ: When I charge a flat fee, does it go in my operating account or my COLTAF account?
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FAQ: When I charge a flat fee, does it go in my operating account or my COLTAF account?

FAQ: When I charge a flat fee, does it go in my operating account or my COLTAF account?

Answer: Fees paid in advance of services being performed by [...]

By Jordan Bates-Rogers|2025-10-23T20:17:23-06:00August 15, 2025|Lawyer & LLP FAQs|0 Comments

FAQ: My office is in another state, and I have an IOLTA account there. Can I deposit client funds into my IOLTA account from my home state?
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FAQ: My office is in another state, and I have an IOLTA account there. Can I deposit client funds into my IOLTA account from my home state?

FAQ: My office is in another state, and I have an IOLTA account there. Can I deposit client funds into my IOLTA account from my home state?

Answer: Any client or third-party funds held in connection with [...]

By Jordan Bates-Rogers|2025-10-23T19:54:38-06:00August 15, 2025|Lawyer & LLP FAQs|0 Comments

FAQ: How do I open a COLTAF account?
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FAQ: How do I open a COLTAF account?

FAQ: How do I open a COLTAF account?

Answer: Select an approved bank or credit union and complete [...]

By Jordan Bates-Rogers|2026-06-09T09:35:41-06:00August 7, 2025|Lawyer & LLP FAQs|0 Comments

FAQ: Can I keep extra money in my COLTAF account to prevent overdrafts?
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FAQ: Can I keep extra money in my COLTAF account to prevent overdrafts?

FAQ: Can I keep extra money in my COLTAF account to prevent overdrafts?

Answer: No. Explanation: A COLTAF account must only hold the [...]

By Jordan Bates-Rogers|2025-10-23T19:57:13-06:00August 7, 2025|Lawyer & LLP FAQs|0 Comments

FAQ: Can I use a debit card to make withdrawals from my COLTAF account?
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FAQ: Can I use a debit card to make withdrawals from my COLTAF account?

FAQ: Can I use a debit card to make withdrawals from my COLTAF account?

Answer: No.Explanation: It is professional misconduct for a Colorado lawyer [...]

By Jordan Bates-Rogers|2025-10-27T18:17:00-06:00August 7, 2025|Lawyer & LLP FAQs|0 Comments

FAQ: Can a Colorado lawyer or LLP accept debit or credit card payments?
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FAQ: Can a Colorado lawyer or LLP accept debit or credit card payments?

FAQ: Can a Colorado lawyer or LLP accept debit or credit card payments?

Answer: Yes, under specific conditions. Explanation: A lawyer or LLP [...]

By Jordan Bates-Rogers|2026-06-09T09:36:24-06:00August 7, 2025|Lawyer & LLP FAQs|0 Comments