Nye, trustee v. Eastman Smith Ltd,, et al., 6th Dist. L-13-2013 Ohio 4742

Nye, trustee v. Eastman Smith Ltd,, et al., 6th Dist. L-13-2013 Ohio 4742. A lawyer who had relationship to irrevocable trust beneficiary/successor trustee's family over the years complained in 2009 of sole beneficiary/successor trustee surrendering, insurance policies to generate income for her benefit. Sole beneficiary/successor trustee surrendered the insurance policies and bought new policies which provided an income benefit that assisted sole beneficiary. When sole beneficiary died two years later the appellant became successor trustee and filed a lawsuit against law firm which advised the sole beneficiary prior successor trustee on the surrender and reinvestment of the irrevocable trusts insurance policies and proceeds.

The Court of Appeals affirmed the trial court's dismissal relying upon Revised Code 5815.1,6. In addition, the Court of Appeals agreed that the underlying representation of the successor trustee concluded on October 15, 2009 when the new insurance policies were purchased following the surrender of the earlier policies and that the claims were barred by the one year statute of limitations applicable to legal malpractice claims.