 |
Texas Statutes (Last Updated: January 4, 2014) |
 |
PROBATE CODE |
|
Chapter XIII. GUARDIANSHIP |
|
Part 4. ADMINISTRATION OF GUARDIANSHIP |
|
Subpart N. MANAGEMENT TRUSTS |
Sec. 873. DISTRIBUTION OF TRUST PROPERTY
-
(a) Unless otherwise provided by the court and except as provided by Subsection (b) of this section, the trustee shall:
(1) prepare a final account in the same form and manner that is required of a guardian under Section 749 of this code; and
(2) on court approval, distribute the principal or any undistributed income of the trust:
(A) to the ward or incapacitated person when the trust terminates on its own terms;
(B) to the successor trustee on appointment of a successor trustee; or
(C) to 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) of this section. The trustee shall distribute the principal and any undistributed income of the trust in the manner provided by Subsection (a)(2) of this section for a trust the beneficiary of which is a ward or incapacitated person.