Texas Trust Code Trustee Powers With Different Bases
Description
How to fill out Blind Trust Agreement For Private Individual As Opposed To Government?
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FAQ
Texas Trust Code Section 112.054(b-1) states:On the petition of a trustee or a beneficiary, a court may order that the terms of the trust be reformed if: (1) reformation of administrative, nondispositive terms of the trust is necessary or appropriate to prevent waste or impairment of the trust's administration; (2) ...
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.
Texas Trust Code §112.004(2) defines ?beneficiary? to be a person for whose benefit property is held in trust regardless of the nature of the interest. This definition would include both income beneficiaries and remaindermen.
(a) On the death, resignation, incapacity, or removal of a sole or surviving trustee, a successor trustee shall be selected ing to the method, if any, prescribed in the trust instrument.
A trustee may adjust between principal and income to the extent the trustee considers necessary if the trustee invests and manages trust assets as a prudent investor, the terms of the trust describe the amount that may or must be distributed to a beneficiary by referring to the trust's income, and the trustee ...