• Blog Post

    Removal of Corporate Trustees in North Carolina

         The landscape of the American economy changed dramatically in the last decade, particularly due to the 2008 financial crisis.  America’s largest commercial banks were forced to sell assets, reorganize, shake-up top management positions, and/or close altogether.  As a result, trusts managed by corporate trustees experienced high turnover among trust officials and changes in corporate ownership.  While there are many advantages to hiring a corporate trustee, unsatisfied beneficiaries find it difficult to remove them, absent a flagrant breach of duty or express language in the trust document.        While many corporate trustee relationships are positive, some beneficiaries become frustrated by a lack of control when confronted with mediocre…