May an estate-planning lawyer serve as primary trustee of an irrevocable life insurance trust the lawyer drafts for a client?
Apply this to your situation
This page answers the general question as of 1997. Ask about yours and see what the current Missouri Rules of Professional Conduct say for your facts, with citations.
Plain-English summary
An estate-planning lawyer drafted an irrevocable life insurance trust for a client. The client wanted the lawyer to serve as primary trustee, and the lawyer told the client the lawyer’s standard hourly fee would apply to trustee work.
The answer says the lawyer must comply with every requirement of Rule 4-1.8(a) if named as primary trustee of the trust the lawyer drafted.
Currency note
This opinion was issued in 1997, before Missouri's 2007 revisions to the Rules of Professional Conduct. Subsequent rule amendments or later opinions may have changed the analysis. Treat this page as historical context and verify current rules before relying on it.
Common questions
Q: Does the opinion prohibit the lawyer from serving as primary trustee?
A: No categorical prohibition appears in the answer. It makes service conditional on compliance with all requirements of Rule 4-1.8(a).
Q: Does the stated hourly trustee fee change the answer?
A: The question discloses the standard hourly fee. The answer still requires compliance with all requirements of Rule 4-1.8(a).
Background and rules framework
The opinion addresses a lawyer’s appointment as trustee of a trust drafted for a client and identifies Rule 4-1.8(a) as the governing requirement.
Citations and references
Missouri Rules of Professional Conduct:
- Rule 4-1.8(a)
See also
- Missouri Informal Op. 970138: Trustee Legal Services
- Missouri Informal Op. 2023-08: Successor Trustee
Source
- Landing page: https://mo-legal-ethics.org/informal-opinion/970130/
- Rule revision reference: Missouri Informal Opinion 20030007
Original opinion text
Reproduced from the official source for research purposes. The linked source is authoritative.
QUESTION: Attorney has a practice limited to the area of estate planning. Attorney is drafting an irrevocable life insurance trust (ILIT) on behalf of a client. The client requests that Attorney serve as the primary trustee under the ILIT. Attorney has explained to the client that Attorney´s standard hourly fee would be charged for work performed as the trustee. Under what circumstances may Attorney serve as trustee for the client? ANSWER: If Attorney will be named as the primary trustee under a trust Attorney drafts, Attorney must comply with all of the requirements of Rule 4–1.8(a).
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