Tex. Est. Code Section 1161.053
Applicability of Procedure to Certain Assets

The fact that an account or other asset is the subject of a specific or general gift under a ward’s will, if any, or that a ward has funds, securities, or other property held with a right of survivorship does not prevent:

(1)

the guardian of the estate from taking possession and control of the asset or closing the account; or

(2)

the court from authorizing an action or modifying or eliminating a duty with respect to the possession, control, or investment of the account or other asset.

Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.

Source: Section 1161.053 — Applicability of Procedure to Certain Assets, https://statutes.capitol.texas.gov/Docs/ES/htm/ES.1161.htm#1161.053 (accessed Jun. 5, 2024).

1161.001
Guardian’s Duty to Keep Estate Invested 1161.002
Standard for Management and Investment of Estate 1161.003
Investments that Meet Standard for Investment 1161.004
Restrictions on Investment in Certain Bonds 1161.005
Modification or Elimination of Duty or Standard 1161.006
Retention of Certain Assets 1161.007
Hearing to Protect Estate 1161.008
Liability of Guardian and Guardian’s Surety 1161.051
Procedure in General 1161.052
Court Action 1161.053
Applicability of Procedure to Certain Assets 1161.054
Inapplicability of Procedure to Certain Assets 1161.101
Definition 1161.102
Authority to Invest in Certain Insurance or Annuities 1161.103
Investment Requirements 1161.104
Procedure for Investing in Insurance or Annuities 1161.105
Continuation of Preexisting Policies or Annuities 1161.106
Control and Ownership of Policies or Annuities 1161.151
Authority to Invest in Real Estate 1161.152
Court Authorization to Make Investments 1161.153
Court Approval of Contracts Required 1161.201
Inapplicability of Subchapter 1161.202
Authority to Make Loans 1161.203
Loan Requirements 1161.204
Guardian’s Duty to Report Loan to Court 1161.205
Guardian’s Liability

Accessed:
Jun. 5, 2024

§ 1161.053’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._est._code_section_1161.053

Original Source: Section 1161.053 — Applicability of Procedure to Certain Assets, https://statutes.capitol.texas.gov/Docs/ES/htm/ES.1161.htm#1161.053 (last accessed Jun. 5, 2024).