14-10604
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14-10604. Limitation on actions contesting validity or revocable trust; distribution of trust property A. A person may commence a judicial proceeding to contest the validity of a trust that was revocable at the settlor's death within the earlier of: 1. One year after the settlor's death. 2. Four months after the trustee sent the person a copy of the trust instrument and a notice informing the person of the trust's existence, of the trustee's name and address and of the time allowed for commencing a proceeding. B. On the death of the settlor of a trust that was revocable at the settlor's death, the trustee may proceed to distribute the trust property in accordance with the terms of the trust. The trustee is not subject to liability for doing so unless either: 1. The trustee has actual knowledge of a pending judicial proceeding contesting the validity of the trust. 2. A potential contestant has notified the trustee in writing of a possible judicial proceeding to contest the trust and a judicial proceeding is commenced within sixty days after the contestant sent the notification. C. A beneficiary of a trust that is determined to have been invalid is liable to return any distribution received except to the extent that the beneficiary is a bona fide purchaser for value without notice. |