The Texas Supreme Court ruled in June 2009 that there is no statute of limitations for removal of a trustee. A beneficiary filed suit to remove the trustee of a trust set up for the benefit of the beneficiary. The trustee, although acknowledging breaches of fiduciary duty, contested the removal on the basis that more [...]
Archive of posts tagged Trustee
Financial institution breached fiduciary duty
In a case decided in 2005, a man had an account at a financial institution. He originally opened the account as a joint account with right of survivorship with his daughter. That means that he and his daughter were joint owners and when the first one died, the account would belong to the survivor without [...]
