Taylor's parents were killed by an assassin who was sent by Edward Rasmus, so his parents wouldn't have the chance to sue him for cheating them out of their life savings, he was the only one who managed to escape and survived the assassin's attack.
Laurel Lance took Taylor into her custody to keep him safe until child services could contact his grandparents. Mr. Blank tried to kill him a second time at Laurel's apartment but was stopped by the Hood. He tried to kill him for the third and final time at the Queen Mansion, but Mr. Blank was killed by Oliver. Taylor was last seen leaving Laurel's apartment, with his grandparents.