Honorable Joan Huffman, Chair, Senate Committee on State Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB1764 by Zaffirini (Relating to termination of a guardianship of the estate for a ward who is the designated beneficiary of a Texas Achieving a Better Life Experience (ABLE) Program account.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend Chapter 1202, Estates Code, to allow a court to order that the guardianship of the estate of a ward terminate and be settled and closed if the court finds that the ward no longer needs a guardian of the estate because all of the ward's assets have been placed in a trust account under the Texas Achieving a Better Life Experience (ABLE) Program and the ward is the designated beneficiary of the account. The bill would amend Chapter 1161, Estates Code to add investment in an ABLE account to a list of permissible investments by a guardian of the estate on behalf of a ward. The bill amends Chapter 142, Property Code, to permit a guardian ad litem or next friend of a minor or incapacitated plaintiff to deposit moneys recovered in a lawsuit on the plaintiff's behalf in an ABLE account. Based on the analyses of the Comptroller and the Office of Court Administration, no significant fiscal impact is anticipated from implementation of the legislation.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 304 Comptroller of Public Accounts