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Sending Out Account Statements And Reading Those Sent To You

December 23, 2014

Authors

Luke Lantta

Sending Out Account Statements And Reading Those Sent To You

December 23, 2014

by: Luke Lantta

Unless prohibited by law or under the governing instrument (a provision which itself may be prohibited by law depending on the jurisdiction), trustees should consider sending out account statements to anyone who does or who may have standing to sue you as trustee because it may start statutes of limitation running on possible claims and put the recipient on inquiry notice of potential claims.  But, as the United States Court of Appeals for the Sixth Circuit recognized in Smith v. J.J.B. Hilliard (unpublished), the road runs both ways for trustees.  If a trustee delegates investment authority to an investment advisor or counselor, the trustee better pay attention to the account statements being sent back to it.

In Smith, a co-trustee sued her investment counselor and broker dealer, alleging that its agent made incompetent investments ten years earlier that cost the trusts

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Statute Of Limitations Barred Action To Set Aside Allegedly Fraudulent Deed

March 21, 2014

Authors

Luke Lantta

Statute Of Limitations Barred Action To Set Aside Allegedly Fraudulent Deed

March 21, 2014

by: Luke Lantta

If a deed has been procured by fraud, it may take a while for the defrauded person to figure out that he or she has been duped.  That’s why, in certain circumstances, the statute of limitations to set aside a fraudulent deed may be tolled.  But a mere allegation that a deed has been procured by fraud isn’t enough to toll the statute of limitations.  The allegedly defrauded person usually can’t just blindly accept someone else’s purportedly fraudulent representations.  Then again, the situation may be different if a fiduciary is the alleged fraudster or if there is a confidential relationship between the parties.  In McCall v. Williams, the Georgia Court of Appeals explored the intersection between alleged fraud, the duty to exercise reasonable

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Georgia Statute Of Limitation For Setting Aside A Deed Based On Fraud

July 18, 2012

Authors

Luke Lantta

Georgia Statute Of Limitation For Setting Aside A Deed Based On Fraud

July 18, 2012

by: Luke Lantta

Last month, the Georgia Court of Appeals was busy addressing cases involving efforts to set aside deeds based on fraud.  So, we’ll take another look at a Georgia fraud case this week: Dunkley v. Evans.  While the appellate court had to address several legal issues, we’ll focus on the statute of limitations.  Here’s how the Georgia Court of Appeals said it worked in a fraud case:

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Incapacity, Death, and Statutes of Limitation

February 17, 2012

Authors

Luke Lantta

Incapacity, Death, and Statutes of Limitation

February 17, 2012

by: Luke Lantta

We’ve previously looked at statutes of limitation in the context of fiduciary litigation.   As a quick refresher, a lawsuit has to be commenced within so many years after the complained of act occurred or you can’t pursue the lawsuit.  There are exceptions to this rule which allow a statute of limitation to be extended, or “tolled.”

Tolling of statutes of limitations can come up with greater frequency in the fiduciary litigation context because certain events like incapacity can toll a statute of limitations.

In Estate of Formyduval, the North Carolina Court of Appeals examined, under North Carolina law, the interplay between incapacity, death, and the statute of limitations for an action to set aside deeds on the basis of fraud and/or undue influence

Let’s take a quick look at the background of this lawsuit over the estate of

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