79R13522 PAM-F
By: Hartnett H.B. No. 3434
Substitute the following for H.B. No. 3434:
By: Hartnett C.S.H.B. No. 3434
A BILL TO BE ENTITLED
AN ACT
relating to testamentary and nontestamentary transfers of property
and other benefits and the administration of those benefits.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 131A(d), Probate Code, is amended to
read as follows:
(d) Not later than the third business day after [On] the
date of the order, the appointee shall file with the county clerk a
bond in the amount ordered by the court. In this subsection,
"business day" means a day other than a Saturday, Sunday, or holiday
recognized by this state.
SECTION 2. Section 248, Probate Code, is amended to read as
follows:
Sec. 248. APPOINTMENT OF APPRAISERS. At any time after the
grant of letters testamentary or of administration, [upon the
application of any interested person or if the court shall deem
necessary,] the court for good cause on its own motion or on the
motion of an interested party shall appoint not less than one nor
more than three disinterested persons, citizens of the county in
which letters were granted, to appraise the property of the estate.
In such event and when part of the estate is situated in a county
other than the county in which letters were granted, if the court
shall deem necessary it may appoint not less than one nor more than
three disinterested persons, citizens of the county where such part
of the estate is situated, to appraise the property of the estate
situated therein.
SECTION 3. Subchapter A, Chapter 113, Property Code, is
amended by adding Section 113.028 to read as follows:
Sec. 113.028. PARTICIPATION IN CERTAIN CAUSES OF ACTION
PROHIBITED. (a) A trustee may not prosecute or participate in a
cause of action if each beneficiary of the trust provides written
notice to the trustee of the beneficiary's opposition to the
trustee's prosecuting or participating in the cause of action.
(b) This section does not apply to a cause of action:
(1) that is prosecuted by a trustee in the trustee's
individual capacity or in which the trustee participates in the
trustee's individual capacity; or
(2) that relates to the administration of the trust,
including a proceeding to:
(A) construe the trust instrument;
(B) determine the law applicable to the trust
instrument;
(C) appoint or remove a trustee;
(D) determine the powers, responsibilities,
duties, or liabilities of the trustee;
(E) ascertain the beneficiaries of the trust;
(F) make a determination of fact affecting the
administration, distribution, or duration of the trust;
(G) determine a question arising in the
administration or distribution of the trust;
(H) relieve the trustee from any duty,
limitation, or restriction otherwise existing under the trust
instrument or this subtitle;
(I) require an accounting by the trustee, review
trustee fees, or settle interim or final accounts of the trust; or
(J) impose a surcharge on the trustee.
(c) The trustee is not liable for failing to prosecute or
participate in a cause of action prohibited by the beneficiaries
under Subsection (a).
SECTION 4. (a) Sections 131A and 248, Probate Code, as
amended by this Act, apply only to the estate of a decedent who dies
on or after the effective date of this Act. The estate of a decedent
who dies before the effective date of this Act is governed by the
law in effect on the date of the decedent's death, and the former
law is continued in effect for that purpose.
(b) Section 113.028, Property Code, as added by this Act,
applies only to a cause of action filed on or after the effective
date of this Act. A cause of action filed before the effective date
of this Act is governed by the law in effect on the date the cause of
action was filed, and the former law is continued in effect for that
purpose.
SECTION 5. This Act takes effect September 1, 2005.