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A BILL TO BE ENTITLED
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AN ACT
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relating to use of spendthrift trust assets to pay certain costs. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 112.035, Property Code, is amended by |
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adding Subsection (g) to read as follows: |
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(g) Notwithstanding any language in a trust instrument |
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creating a spendthrift trust, a court exercising jurisdiction over |
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a ward or a proposed ward in a guardianship proceeding may require |
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the trust to pay the costs of the proceeding if the ward or proposed |
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ward is or becomes the beneficiary of a trust with sufficient assets |
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to pay those costs. |
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SECTION 2. (a) Except as otherwise expressly provided by a |
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trust, a will creating a trust, or this section, the changes in law |
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made by this Act apply to a trust existing or created on or after |
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September 1, 2013. |
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(b) For a trust existing on September 1, 2013, that was |
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created before that date, the changes in law made by this Act apply |
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only with respect to a guardianship proceeding commenced on or |
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after September 1, 2013. |
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SECTION 3. This Act takes effect September 1, 2013. |