Tex. Prop. Code Section 112.033
Reservation of Interests and Powers by Settlor


If during the life of the settlor an interest in a trust or the trust property is created in a beneficiary other than the settlor, the disposition is not invalid as an attempted testamentary disposition merely because the settlor reserves or retains, either in himself or another person who is not the trustee, any or all of the other interests in or powers over the trust or trust property, such as:

(1)

a beneficial life interest for himself;

(2)

the power to revoke, modify, or terminate the trust in whole or in part;

(3)

the power to designate the person to whom or on whose behalf the income or principal is to be paid or applied;

(4)

the power to control the administration of the trust in whole or in part;

(5)

the right to exercise a power or option over property in the trust or over interests made payable to the trust under an employee benefit plan, life insurance policy, or otherwise; or

(6)

the power to add property or cause additional employee benefits, life insurance, or other interests to be made payable to the trust at any time.
Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.

Source: Section 112.033 — Reservation of Interests and Powers by Settlor, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­112.­htm#112.­033 (accessed Mar. 23, 2024).

112.001
Methods of Creating Trust
112.002
Intention to Create Trust
112.003
Consideration
112.004
Statute of Frauds
112.005
Trust Property
112.006
Additions to Trust Property
112.007
Capacity of Settlor
112.008
Capacity of Trustee
112.009
Acceptance by Trustee
112.010
Presumed Acceptance by Beneficiary
112.011
Posthumous Class Gifts Membership
112.031
Trust Purposes
112.032
Active and Passive Trusts
112.033
Reservation of Interests and Powers by Settlor
112.034
Merger
112.035
Spendthrift Trusts
112.036
Rule Against Perpetuities
112.037
Trust for Care of Animal
112.038
Forfeiture Clause
112.051
Revocation, Modification, or Amendment by Settlor
112.052
Termination
112.053
Disposition of Trust Property on Failure of Trust
112.054
Judicial Modification, Reformation, or Termination of Trusts
112.055
Amendment of Charitable Trusts by Operation of Law
112.056
Permissive Amendment by Trustee of Charitable Trust
112.057
Division and Combination of Trusts
112.058
Conversion of Community Trust to Nonprofit Corporation
112.059
Termination of Uneconomic Trust
112.071
Definitions
112.072
Distribution to Second Trust: Trustee with Full Discretion
112.073
Distribution to Second Trust: Trustee with Limited Discretion
112.074
Notice Required
112.075
Written Instrument Required
112.076
Reference to Trust Terms
112.077
Settlor of Second Trust
112.078
Court-ordered Distribution
112.079
Divided Discretion
112.080
Later Discovered Assets
112.081
Other Authority to Distribute in Further Trust Not Limited
112.082
Need for Distribution Not Required
112.083
Duties Not Created
112.084
Certain Distributions Prohibited
112.085
Exceptions to Power of Distribution
112.086
Tax-related Limitations
112.087
Compensation of Trustee
112.101
Definitions
112.102
Revocation of Certain Nontestamentary Transfers
112.103
Effect of Revocation
112.104
Liability of Certain Purchasers or Recipients of Certain Payments, Benefits, or Property
112.105
Liability of Former Spouse or Former Spouse’s Relative for Certain Payments, Benefits, or Property
112.106
Certain Trusts with Divorced Individuals as Joint Settlors
112.121
Validity of Trust
112.122
Enforcement of Trust
112.123
Application or Distribution of Trust Property
112.0335
Construction of Certain Trusts
112.0715
Creation of Second Trust

Accessed:
Mar. 23, 2024

§ 112.033’s source at texas​.gov