112.0715 – CREATION OF SECOND TRUST. (a) A second trust
Texas Property Code § 112.0715
Summary
This law allows for the creation of a second trust by distributing principal from an existing trust. The second trust can retain the original trust's name and tax identification number, simplifying the process for trustees and beneficiaries.
Enables creation of a second trust from an existing trust's principal.
Second trust can keep the original trust's name and tax ID.
Simplifies trust management under federal law guidelines.
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In simple terms: Learn about Texas's CREATION OF SECOND TRUST. (a) A second trust 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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