83R9719 AJA-F
By: Thompson of Harris H.B. No. 2461
A BILL TO BE ENTITLED
AN ACT
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.