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AN OVERVIEW OF CHAPTER 1301 MANAGEMENT TRUSTS AND REFLECTIONS ON CERTAIN UNANSWERED QUESTIONS ABOUT MANAGEMENT TRUSTSModerator: KEITH V. NOVICE, Dallas Foley & Lardner LLP Panelists: THE HONORABLE

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People Also Ask about

What is Chapter 1301 of the Texas Estates Code?

One alternative available to the mother might be a trust created by the court under Section 1301 of the Texas Estates Code. Under this law, a financial institution, and sometimes a person, can be appointed by the court to act as a Trustee of a trust created by the court for the minor's benefit.

What is the Texas Estates Code?

Texas Estates Code 205.001 allows your beneficiaries to avoid probate if you leave no will and the value of the probate estate does not exceed $75,000. Those due to inherit under the Texas laws of intestate succession can prepare and present an affidavit to receive their inheritances.

What is the Texas guardianship Estates Code?

1104.001. GUARDIAN OF THE PERSON OR ESTATE. (a) Only one person may be appointed as guardian of the person or estate, but one person may be appointed guardian of the person and another person may be appointed guardian of the estate, if it is in the best interest of the incapacitated person or ward.

What is Section 113.151 of the Texas Property Code?

Section 113.151 - Demand for Accounting (a) A beneficiary by written demand may request the trustee to deliver to each beneficiary of the trust a written statement of accounts covering all transactions since the last accounting or since the creation of the trust, whichever is later.

What is Section 1101.103 of the Texas Estates Code?

Determination of Incapacity of Certain Adults: Physician Examination. Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code.

What is Section 867 of the Texas Probate Code?

Section 867 Trusts are trusts which are authorized by Section 867 of the Texas Probate Code. Section 867 Trusts can be created by a court when there is a guardianship pending. The creation of an 867 Trust must be requested by the guardian or an attorney ad litem.

What is the standard to which a Trustee is held in managing a trust in Texas?

Texas trustees are held to a high standard of conduct and have “fiduciary duties” that they must abide by. Texas trust law will not allow an “absolute and uncontrolled discretion” clause to be interpreted literally.

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