Fiduciaries should always be thinking of ways to get the statute of limitations started. Why have a claim hanging over your head for many years, when you can take actions that shorten the time in which a claim may be brought against you? Typically, we think of getting that time running in terms of sending regular account statements to the trust beneficiaries. In Domino v. Braswell, the Court of Appeals of Mississippi got us thinking about another way to start the clock running: by publicly recording documents.
A grantor, the trustees, and the beneficiaries of a trust modified the trust to correct a clerical error. The trust modification was filed as a public record in 1997. After the grantor died, in 2013, a complaint wasRead More