Opinion 1032

The Committee considered your inquiry regarding the handling of funds received by a lawyer in his role as a Fiduciary when acting as a trustee, guardian or executor for family members or for clients who have become close friends. The Committee was of the opinion that the answer to the question of whether those funds must be held in conformance with RPC 1.14 depended upon whether they were client funds in the possession of the lawyer. If they were, the Committee was of the opinion that they would have to be deposited into the type of account required by RPC 1.14. On the other hand, if the funds remained the property of the client, such as funds received from a business being managed by the fiduciary, then those funds would remain client funds and would not necessarily need to be held in conformance with RPC 1.14.

Advisory Opinions are provided for the education of the Bar and reflect the opinion of the Committee on Professional Ethics (CPE) or its predecessors. Advisory Opinions are provided pursuant to the authorization granted by the Board of Governors, but are not individually approved by the Board and do not reflect the official position of the Bar association. Laws other than the Washington State Rules of Professional Conduct may apply to the inquiry. The Committee's answer does not include or opine about any other applicable law other than the meaning of the Rules of Professional Conduct.