114.001 – LIABILITY OF TRUSTEE TO BENEFICIARY. (a) The
Texas Property Code § 114.001
Summary
This law establishes that trustees must account for trust property and any profits made during trust administration to beneficiaries. It clarifies that while trustees must report profits, they are not required to return their compensation as outlined in the trust terms.
Trustees must account for trust property and profits to beneficiaries.
Trustee's compensation is not subject to return.
Applies regardless of whether profits arise from a breach of trust.
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In simple terms: Learn about Texas's LIABILITY OF TRUSTEE TO BENEFICIARY. (a) The 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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