2010 Pennsylvania Code
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 77 - Trusts
7785 - Limitation of action against trustee.

     § 7785.  Limitation of action against trustee.
        (a)  Imposed by trustee's written reports.--
            (1)  A beneficiary may not challenge a transaction or
        assert a claim against a trustee for breach of trust on the
        basis of a transaction if:
                (i)  the trustee provided the beneficiary with a
            written report of the trust's assets and their market
            values if feasible, the trust's liabilities and the
            trust's receipts and disbursements for the year in which
            the transaction occurred and for each of the four
            subsequent calendar years;
                (ii)  the transaction was disclosed in the first of
            the five reports to which subparagraph (i) refers;
                (iii)  the beneficiary did not notify the trustee in
            writing within six months after receiving the fifth
            annual report that the beneficiary objects to the
            transaction and provide the basis in writing for that
            objection; and
                (iv)  all reports were accompanied by a conspicuous
            written statement describing the effect of this
            paragraph.
            (2)  A claim not barred by paragraph (1) may nevertheless
        be barred by subsection (b).
        (b)  Five-year absolute bar.--If not previously barred by
     subsection (a) or section 7798 (relating to failure to present
     claim at audit):
            (1)  Except as provided in paragraph (2) or (3), a claim
        by a beneficiary against a trustee, including a claim
        preserved by the beneficiary notifying the trustee in the
        manner described in subsection (a), shall be barred five
        years after the first to occur of the following events:
                (i)  the date after the removal, resignation or death
            of the trustee on which the beneficiary was given the
            notice required by section 7780.3(g) (relating to duty to
            inform and report);
                (ii)  the termination of the beneficiary's interest
            in the trust; or
                (iii)  the termination of the trust.
            (2)  Except as set forth in paragraph (3), if the first
        to occur of the events set forth in paragraph (1) occurred
        before November 6, 2006, a claim described in paragraph (1)
        shall be barred five years after November 6, 2006.
            (3)  A claim described in paragraph (1) is not barred if,
        prior to the respective date set forth in either paragraph
        (1) or (2), the trustee has filed an account with the court
        or the beneficiary has petitioned the court to compel the
        trustee to file an account.

        Cross References.  Section 7785 is referred to in section
     7772 of this title.