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Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 37778
Experience:  30 years in civil, probate, real estate, elder law
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Is there a regulatory entity in Texas I can contact to complain

Customer Question

Is there a regulatory entity in Texas I can contact to complain about the handling of a trust? This is a family trust that has been in existance for many years and has always done very well. About two years ago the administration of this trust was taken over by Capital One Bank. Since then my trust income and the trust value has continued to diminish. I feel that this trust is being grossly mismanaged and that the trust officers are not living up to their fiduciary duties. Additionally, I received a letter today from Capital One saying they are substantialy raising their fees.

Please let me know who I can contact. Thank you.
Submitted: 3 years ago.
Category: Legal
Expert:  Ray replied 3 years ago.

RayAnswers :

Thanks for your question and good afternoon.My sympathy here for your situation and dilemma.Yes you can make a complaint here to the state banking agency.They will investigate your complaint and may take action against the institution.You may also want to consider your own lawyer.Texas allows for suits against trustees for violations of fiduciary duty and it is possible to seek their removal in such a situation.This is a civil type suit filed with a lawyer in the District Court .You may also seek lawyer fees and court costs if you prevail.

RayAnswers :

Here is where to file your complaint.

RayAnswers :

Please consider a consult here with a local trust lawyer.You can get a half hour here for $20 through the Texas Bar.

RayAnswers :

It has been my pleasure to assist you today.Please let me know if you have more follow up.Thanks again.

RayAnswers :

I hope that you will be so kind as to leave a positive rating. If you do have any additional questions about my answer please click the "Continue Conversation Link" so I can provide you with a fully satisfactory answer. Please be aware that any rating of 1 or 2 is reflected as a negative rating and I receive no credit for my answers.

This communication does not establish an attorney client relationship here.Information provided is not legal advice. Rather it is simply general information.

RayAnswers :

Here is reference to the law and cases in Texas for removal of a trustee by civil suit.

RayAnswers :

One more article with you rights as a beneficiary of a Texas Trust..

RayAnswers :

Thanks again.

RayAnswers :

I wish you good luck with your complaint and pursuing removal through the courts as well.