Opinion 1364

The Committee reviewed your inquiry concerning your proposal to form a corporation to perform estate escrow and closing work, in which nonlawyers would be shareholders and owners. First, the Committee directed that I send you a recently adopted Formal Opinion (187) on a related subject for your guidance. Further, the Committee was of the opinion that nothing in the Rules of Professional Conduct would prohibit you from establishing an escrow business partnership which was separate and apart from your law practice in which nonlawyers had an ownership interest. The Committee did want to emphasize that if nonlawyers were to have an ownership interest, the escrow business would have to be entirely separate and apart from your law practice and not an extension of it.

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.