Texas Statutes
Subchapter E. Modification, Revocation, or Termination of Management Trusts
Section 1301.204. Distribution of Trust Property

Sec. 1301.204. DISTRIBUTION OF TRUST PROPERTY. (a) Unless otherwise provided by the court and except as provided by Subsection (b), the trustee of a management trust shall:
(1) prepare a final account in the same form and manner that is required of a guardian under Sections 1204.101 and 1204.102; and
(2) on court approval, distribute the principal or any undistributed income of the trust to:
(A) the ward or incapacitated person when the trust terminates on the trust's own terms;
(B) the successor trustee on appointment of a successor trustee; or
(C) the representative of the deceased ward's or incapacitated person's estate on the ward's or incapacitated person's death.
(b) The court may not require a trustee of a trust created for a person who has only a physical disability to prepare and file with the court a final account as described by Subsection (a)(1). The trustee shall distribute the principal and any undistributed income of the trust in the manner provided by Subsection (a)(2) for a trust the beneficiary of which is a ward or incapacitated person.
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 161 (S.B. 1093), Sec. 6.073, eff. January 1, 2014.

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