Texas § PR.112.073 - DISTRIBUTION TO SECOND TRUST
Full text of Texas The Texas Constitution § PR.112.073 — DISTRIBUTION TO SECOND TRUST, with citation guidance and answers to common questions.
§ PR.112.073. DISTRIBUTION TO SECOND TRUST
DISTRIBUTION TO SECOND TRUST: TRUSTEE WITH LIMITED DISCRETION. (a) An authorized trustee who has limited discretion to distribute the principal of a trust may distribute all or part of the principal of that trust in favor of a trustee of a second trust as provided by this section. (b) The current beneficiaries of the second trust must be the same as the current beneficiaries of the first trust, and the successor and presumptive remainder beneficiaries of the second trust must be the same as the successor and presumptive remainder beneficiaries of the first trust. (c) The second trust must include the same language authorizing the trustee to distribute the income or principal of the trust that was included in the first trust. (d) If the beneficiaries of the first trust are described as a class of persons, the beneficiaries of the second trust must include all persons who become members of that class after the distribution to the second trust. (e) If the first trust grants a power of appointment to a beneficiary of the trust, the second trust must grant the power of appointment to the beneficiary in the second trust, and the class of permissible appointees under that power must be the same as the class of permissible appointees under the power granted by the first trust. (f) The authorized trustee shall exercise a power of distribution under this section in good faith, in accordance with the terms and purposes of the trust, and in the interests of the beneficiaries. Added by Acts 2013, 83rd Leg., R.S., Ch. 699 (H.B. 2913 ), Sec. 3, eff. September 1, 2013.
Frequently Asked Questions About Texas § PR.112.073
What does The Texas Constitution § PR.112.073 cover?
Section PR.112.073 ("DISTRIBUTION TO SECOND TRUST") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § PR.112.073?
A common citation format is "The Texas Constitution § PR.112.073" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § PR.112.073 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.