Arizona Laws 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:
Terms Used In Arizona Laws 14-10604
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means a person who either:
(a) Has a present or future beneficial interest in a trust, vested or contingent. See Arizona Laws 14-10103
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency or instrumentality, public corporation or any other legal or commercial entity. See Arizona Laws 14-10103
- Proceeding: includes action at law and suit in equity. See Arizona Laws 14-1201
- Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest in anything that may be the subject of ownership. See Arizona Laws 14-10103
- Settlor: means a person, including a testator, who creates or contributes property to a trust. See Arizona Laws 14-10103
- Trust: includes an express trust, private or charitable, with any additions, wherever and however created. See Arizona Laws 14-1201
- Trust instrument: means an instrument executed by the settlor that contains terms of the trust, including any amendments to that trust. See Arizona Laws 14-10103
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional and successor trustee and a cotrustee. See Arizona Laws 14-10103
- Writing: includes printing. See Arizona Laws 1-215
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.