CI-1109
August 28, 1985
SYLLABUS
A lawyer may engage in a separate business endeavor of providing fiduciary services as described in the Revised Probate Code, provided in so doing his actions do not violate ethics rules.
References: MCPR DR 2-101, 2-102; CI-175, CI-238.
TEXT
A lawyer asks whether it is permissible for a lawyer to provide fiduciary services as described in the Revised Probate Code as a professional corporation.
There does not appear to be any prohibition in ethics rules which would preclude a lawyer simply because he/she holds a license to practice law from providing fiduciary services.
In CI-175 the Committee held that it was unethical for a lawyer/fiduciary or a lawyer acting as a fiduciary to cause estate property to be sold to the lawyer's secretary, or a member of the lawyer's immediate family, or a client to circumvent the statutory prohibition of self-dealing. In CI-238 this Committee felt a lawyer could conduct seminars on estate planning for potential customers of a private cemetery corporation, but was precluded from accepting professional employment from anyone attending the seminars. The many opinions regarding advertising of a lawyer are broad in scope of activity allowed so long as the claims are not false, fraudulent, misleading or deceptive. MCPR DR 2-101, 2-102
Whether or not the lawyer may provide the described services as a professional corporation appears to require a legal rather than an ethical opinion and is beyond the scope of the this Committee's jurisdiction.
It would accordingly appear implicit that it is not unethical for a lawyer to provide fiduciary services, provided that the alwyer complies with all ethics rules.