Tex.
Prop. Code Section 111.0035
Default and Mandatory Rules; Conflict Between Terms and Statute
(a)
Except as provided by the terms of a trust and Subsection (b), this subtitle governs:(1)
the duties and powers of a trustee;(2)
relations among trustees; and(3)
the rights and interests of a beneficiary.(b)
The terms of a trust prevail over any provision of this subtitle, except that the terms of a trust may not limit:(1)
the requirements imposed under Section 112.031 (Trust Purposes);(2)
the applicability of Section 114.007 (Exculpation of Trustee) to an exculpation term of a trust;(3)
the periods of limitation for commencing a judicial proceeding regarding a trust;(4)
a trustee’s duty:(A)
with regard to an irrevocable trust, to respond to a demand for accounting made under Section 113.151 (Demand for Accounting) if the demand is from a beneficiary who, at the time of the demand:(i)
is entitled or permitted to receive distributions from the trust; or(ii)
would receive a distribution from the trust if the trust terminated at the time of the demand; and(B)
to act in good faith and in accordance with the purposes of the trust;(5)
the power of a court, in the interest of justice, to take action or exercise jurisdiction, including the power to:(A)
modify, reform, or terminate a trust or take other action under Section 112.054 (Judicial Modification, Reformation, or Termination of Trusts);(B)
remove a trustee under Section 113.082 (Removal of Trustee);(C)
exercise jurisdiction under Section 115.001 (Jurisdiction);(D)
require, dispense with, modify, or terminate a trustee’s bond;(E)
adjust, deny, or order disgorgement of a trustee’s compensation if the trustee commits a breach of trust; or(F)
make an award of costs and attorney’s fees under Section 114.064 (Costs); or(6)
the applicability of Section 112.038 (Forfeiture Clause).(c)
The terms of a trust may not limit any common-law duty to keep a beneficiary of an irrevocable trust who is 25 years of age or older informed at any time during which the beneficiary:(1)
is entitled or permitted to receive distributions from the trust; or(2)
would receive a distribution from the trust if the trust were terminated.
Source:
Section 111.0035 — Default and Mandatory Rules; Conflict Between Terms and Statute, https://statutes.capitol.texas.gov/Docs/PR/htm/PR.111.htm#111.0035 (accessed Apr. 20, 2024).
