Thank you for sharing!

Your article was successfully shared with the contacts you provided.
http://nycourts.law.com/CourtDocumentViewer.asp?view=Document&docID=46510 Justice Tolub UNDER A Dec. 10, 1969 trust, plaintiff was to receive the corpus of the trust upon turning 21 on Dec. 10, 1990. She was never informed of the trust’s expiration. Prior to Dec. 31, 1992 an account was opened pursuant to the Connecticut Uniform Gift to Minors Act. In 1994, plaintiff was allegedly deceived into signing a document pursuant to which her assets were placed in an irrevocable trust naming her grandfather as trustee. The court found that plaintiff’s grandfather, uncle and an attorney breached their fiduciary duties to her by failing to distribute the trust assets on her 21st birthday and by conspiring to conceal the nature of the 1994 document. Despite the trustee-defendants’ breach of their fiduciary obligations in 1990 and 1994, the court held that under the six-year statute of limitations for fraud plaintiff’s claim for rescission was time-barred. Noting plaintiff’s lack of a valid excuse for failing to read the 1994 document, the court citing Sofio v. Hughes, held that she was bound by that document’s terms.

Want to continue reading?
Become a Free ALM Digital Reader.

Benefits of a Digital Membership:

  • Free access to 1 article* every 30 days
  • Access to the entire ALM network of websites
  • Unlimited access to the ALM suite of newsletters
  • Build custom alerts on any search topic of your choosing
  • Search by a wide range of topics

*May exclude premium content
Already have an account?

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.