Guide to Texas IOLTA Trust Account Recordkeeping

The Texas Bar provides a detailed guide on IOLTA trust account procedures and recordkeeping requirements.

‍A Lawyer's Guide to Client Trust Accounts

Texas is one of the few states that requires prepaid flat fees to be held in the IOLTA account until earned. Rule 1.14 and the guide to trust accounts include more detail on the position. A compromise is to set milestones in the flat fee agreement and that allow a portion of the flat fee to be transferred to the operating account at while the work is being completed.