Bill Text: TX HB2461 | 2013-2014 | 83rd Legislature | Introduced
Bill Title: Relating to use of spendthrift trust assets to pay certain costs.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2013-03-12 - Referred to Judiciary & Civil Jurisprudence [HB2461 Detail]
Download: Texas-2013-HB2461-Introduced.html
| 83R9719 AJA-F | ||
| By: Thompson of Brazoria | H.B. No. 2461 | |
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| relating to use of spendthrift trust assets to pay certain costs. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 112.035, Property Code, is amended by | ||
| adding Subsection (g) to read as follows: | ||
| (g) Notwithstanding any language in a trust instrument | ||
| creating a spendthrift trust, a court exercising jurisdiction over | ||
| a ward or a proposed ward in a guardianship proceeding may require | ||
| the trust to pay the costs of the proceeding if the ward or proposed | ||
| ward is or becomes the beneficiary of a trust with sufficient assets | ||
| to pay those costs. | ||
| SECTION 2. (a) Except as otherwise expressly provided by a | ||
| trust, a will creating a trust, or this section, the changes in law | ||
| made by this Act apply to a trust existing or created on or after | ||
| September 1, 2013. | ||
| (b) For a trust existing on September 1, 2013, that was | ||
| created before that date, the changes in law made by this Act apply | ||
| only with respect to a guardianship proceeding commenced on or | ||
| after September 1, 2013. | ||
| SECTION 3. This Act takes effect September 1, 2013. | ||
