Would the Substitute Decisions Act or the Trustee's Act apply?(Ontario)
This is an estate dispute between two trustees. The "misappropriation of funds" in question occurred in 2000, when the two trustees had joint/several power of attorney of the deceased. At that time, the one trustee knew of the possible misappropriation but chose to not take any action in the matter. The death occurred in 2006. To this day, the estate sits in limbo as a result of the "supposed" misappropriation.
At issue is whether there is any limitation period that may have already expired. However, in my research, it would seem this would largely depend on whether the Substitute Decisions Act would apply or whether the Trustees Act would. The misappropriation occurred when the power of attorney was effective, not after death. Would any action as a result then fall under the Substitute Decisions Act or would it now fall under the Trustees Act?
Wondering in Ontario
|