79R4652 MTB-D

By:  Casteel                                                      H.B. No. 1472



A BILL TO BE ENTITLED

AN ACT

relating to the authority to file an application for the creation of 
a management trust during a guardianship proceeding.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 867(b), Texas Probate Code, is amended 
to read as follows:
	(b)  On application by the guardian of a ward or a person 
interested in the welfare of an incapacitated person, or by a ward's 
attorney ad litem or an incapacitated person's guardian ad litem at 
any time after the date of the ad litem's appointment under Section 
646 or another provision of this code, the court in which the 
guardianship proceeding is pending may enter an order that creates 
for the ward's or incapacitated person's benefit a trust for the 
management of guardianship funds or funds of the incapacitated 
person's estate if the court finds that the creation of the trust is 
in the ward's or incapacitated person's best interests.  Except as 
provided by Subsections (c) and (d) of this section, the court shall 
appoint a financial institution to serve as trustee of the trust.
	SECTION 2.  This Act takes effect immediately if it receives 
a vote of two-thirds of all the members elected to each house, as 
provided by Section 39, Article III, Texas Constitution.  If this 
Act does not receive the vote necessary for immediate effect, this 
Act takes effect September 1, 2005.