California, United States of America
The following excerpt is from Museum Assoc.s v. Schiff, B219729, No. BP067911 (Cal. App. 2011):
In Noggle v. Bank of America, supra, 70 Cal.App.4th 853, the remainder beneficiaries of a trust sued the trustee for failure to manage the trust assets for the benefit of the remaindermen. (Id. at p. 856.) The trial court concluded there was sufficient information from which the remaindermen were on notice that a claim existed against the trustee. (Id. at p. 861.) The types of information available to the remaindermen were various communications from the trustee that included accountings and a letter explaining the trustee's investment strategy to invest assets in order to maximize the income for the
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