Could a Vermont attorney serving as executor sell estate property to an associate in the attorney’s firm?
Apply this to your situation
This page answers the general question as of 1988. Ask about yours and see what the current Vermont Rules of Professional Conduct say for your facts, with citations.
Plain-English summary
An attorney serving as estate executor proposed selling estate property to an associate in the attorney's firm. An independent appraisal set the proposed price, and the sale depended on approval by all interested parties and the probate judge.
The committee concluded the transaction was not barred by the former Code on the stated full disclosure, appraisal, and approval facts. It applied rules addressing a lawyer's financial interests and business transactions with clients to the executor and associate relationship.
The committee was troubled that a sale without a public offering could appear improper. It nevertheless said the appearance concern under Canon 9 alone did not supply a specific Disciplinary Rule barring the sale.
Currency note
This opinion was issued in 1988 under Vermont's former Code of Professional Responsibility. The Vermont Supreme Court's rules history says the Rules of Professional Conduct replaced the Code and applied to lawyer conduct after September 1, 1999; the court later made comprehensive amendments in 2009. Subsequent rule amendments or later opinions may have changed the analysis. Treat this page as historical context, not current guidance. Verify against current rules before relying on any specific rule, deadline, or requirement.
Common questions
Q: Did the committee prohibit the proposed sale?
A: No. It found no Code prohibition under the stated disclosure, independent appraisal, and approval facts.
Q: Was the sale free of any concern?
A: No. The committee said a quick private sale to a firm associate could create an appearance of impropriety.
Q: Did Canon 9 alone bar the sale?
A: No. The committee said the Canon did not itself prohibit conduct and found no applicable Disciplinary Rule barring this transaction.
Background and rules framework
The committee discussed former Code DR 5-101(A) and DR 5-104(A) on lawyer financial interests and client transactions, plus Canon 9, EC 9-21, and EC 9-2 on public perception.
Citations and references
Vermont Code of Professional Responsibility:
- DR 5-101(A), DR 5-104(A), Canon 9, EC 9-21, EC 9-2
Other opinions cited:
- ABA Informal Opinion 677 (1963); ABA Informal Decision C-804 (1964)
See also
Source
- Landing page: VBA conflict of interest opinions
- Original PDF: Vermont Advisory Opinion 88-08
- Rules history: Vermont Rules of Professional Conduct, “These rules apply to lawyer conduct after September 1, 1999.”
- Index discrepancy: The index describes 88-08 as a former-adversary appellate representation. The linked PDF’s synopsis instead begins “An executor of an estate who is also an attorney may, under strictly limited circumstances, convey estate property to an associate.”
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