113.205 – PAYMENT OF TRUST ACCOUNT. (a) A trust account
Texas Estates Code § 113.205
Summary
This law allows for the payment of funds from a trust account to trustees or, under certain conditions, to the personal representatives or heirs of a deceased trustee. It ensures that financial institutions can process these payments while protecting the interests of beneficiaries with vested rights.
Trust accounts can be paid to any trustee upon request.
Payment to heirs requires proof of the trustee's death.
Beneficiaries with vested interests must provide written notice to the financial institution.
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In simple terms: Learn about Texas's PAYMENT OF TRUST ACCOUNT. (a) A trust account law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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