QUESTION
Is there a time limit for a beneficiary to file suit against the trust?
Asked on Sep 01st, 2013 on Estate Planning - Colorado
More details to this question:
I am a trustee of my aunt’s trust. My aunt had passed on 9-8-11. My sister who is a beneficiary now wants to take to court regarding financial things prior to my aunt’s death. I am the POA also. I was wondering is there a time limit and does she have a right to that documentation.
9 ANSWERS
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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You will have to check the state statutes. There are usually different statutes of limitations for various types of cases.
Answered on Sep 18th, 2013 at 4:12 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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You need to talk with your attorney about it. It depends on what law governs the trust and whether there are allegations of fraud or just mismanagement.
Answered on Sep 03rd, 2013 at 4:33 PM
A POA, or Power of Attorney, ceases to exist after someone dies. If you have your dead aunt's POA, then her POA 'died' with her. You cannot act under a POA. You also appear to be a Trustee of your aunt's trust. As a Trustee, you have a fiduciary duty to all beneficiaries and any beneficiary can request an accounting and you should be providing an accounting on at least an annual basis. Having POA before the death also can put you in a precarious situation and you should be accountable to the estate and provide an accounting if you did use and act upon the POA while your aunt was alive. You should hire an attorney with knowledge in this area of law to review your exact situation as everyone's facts vary and can create unique legal issues specific to you.
Answered on Sep 03rd, 2013 at 3:35 PM
Thomas Edward Gates
The POA is no longer valid. The Trust will identify the accounting owed to the beneficiaries. If your sister was not a beneficiary at the time your aunt was alive, she has no standing to seek the information.
Answered on Sep 03rd, 2013 at 1:29 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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I suppose it depends on what documentation you mean and what the suit would be for. There are fraud statutes that allow recovery up to six years. Other statutes could be 3 years or less. As trustee, you may have a duty to pursue an action, if there is evidence to support a valid claim.
Answered on Sep 03rd, 2013 at 12:38 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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You need the assistance of a probate litigation or estate planning attorney to defend yourself as trustee of the trust, as I see a lawsuit coming generally, she would have a year to bring legal action after death of settler; by the way, the Power of attorney died when aunt died, leaving you no power.
Answered on Sep 03rd, 2013 at 12:26 PM
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It depends if and when you gave notice under Probate Code Section 16061.7 and if your sister knew of the financial issues before or if she just found out. It is certainly possible she can take you to court.
Answered on Sep 03rd, 2013 at 11:48 AM
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The power of attorney died with the maker, so you were the power of attorney. The Trustee can probably pursue you. In Nevada, the shortest possible statute of limitations is 2 years (for non-public officials) but may be longer depending upon the issue. Also the time may be tolled after the maker's death. So chances are she can effectively pursue you. I urge you seek out counsel to address your options, possible outcomes and costs associated with the same. Best of luck you. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship. This response is only based upon the limited facts presented and is merely intended to assist you in determining if you should contact an attorney to provide you with legal advice.
Answered on Sep 03rd, 2013 at 11:37 AM
Yes, there are time limits.
Answered on Sep 03rd, 2013 at 11:36 AM