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Our colleagues at RBC Wealth Management, Estate & Trust Services in their January 2013 Newsletter wrote an interesting note on “ Provisions in Wills/Trust Instruments For Minimum Number of Trustees”
Click to link to the RBC Newsletter
It is surprising to me when in the course of a trust administration, normally on a passing of accounts well into the future that it is discovered that the past terms of the trust were never properly followed, nor was there any adherence to the provisions of the Trustee Act when replacing, removing and appointing successor trustees including being attentive to the number of Trustees required. The article also addresses lapsed gifts of residue.
