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Friday, March 9, 2012

Heirs sue estate trustee

I'm attaching a story here from http://www.capitalmagazine.ca/ in which the beneficiaries of a trust are suing the trust company (RBC Royal Trust) for mishandling a trust set up by their grandfather. They allege that the trust company followed instructions set out by their father (also a beneficiary) to the detriment of the trust. I don't work for RBC, in fact I work for their competition, but my feeling is that this is very much only one side of the story. Our industry is highly regulated and audited. A good reputation is paramount. I've never even heard of a lawsuit like this in the time I've worked here. I hope http://www.capitalmagazine.ca/ will print the results of the lawsuit. I for one will be watching for that. Click here to read the story.

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