Revocable Trust – Statues of Limitations

By: Derek Hawkins//September 19, 2017//

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WI Court of Appeals – District III

Case Name: The Schroeder Family Revocable Trust v. Douglas Schroeder

Case No.: 2016AP940

Officials: Stark, P.J., Hruz and Seidl, JJ

Focus: Revocable Trust – Statues of Limitations

Douglas argues the applicable statutes of limitation precluded all of the Trust’s claims against him, including its memorialization claim. We reject this argument because each of the payments Douglas made pursuant to the contract of sale constituted an acknowledgment and renewal of the debt, so as to toll the running of the applicable statute of limitations. Douglas also argues the circuit court ignored the contract’s plain language when it concluded he was required to make payments to the Trust rather than to the individuals named in the contract. We conclude the circuit court properly interpreted the contract as requiring that the Trust receive all payments resulting from the sale of the Trust’s real property. Accordingly, we affirm.

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Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.

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