KRS 386B.10-050: Limitation of action against trustee.

(1) For the purposes of this section, a "report" is an account statement or other form of

written disclosure made by the trustee to the beneficiary.

(2) A beneficiary may not commence a proceeding against a trustee for breach of trust

more than one (1) year af ter the date the beneficiary or a representative of the

beneficiary was sent a report that adequately disclosed the existence of a potential

claim for breach of trust and informed the beneficiary of the time allowed for

commencing a proceeding.

(3) A report adequately discloses the existence of a potential claim for breach of trust if

it provides sufficient information so that the beneficiary or representative knows of

the potential claim or should have inquired into its existence.

(4) If subsection (2) of this section does not apply, a judicial proceeding by a

beneficiary against a trustee for breach of trust shall be commenced within five (5)

years of discovery of an injury by a trustee to the rights of the beneficiary.