117.012 – LANGUAGE INVOKING STANDARD OF CHAPTER. The
Texas Property Code § 117.012
Summary
This section clarifies that specific terms in a trust document allow for a wide range of investment strategies permitted under Texas law. It affects trustees and beneficiaries by ensuring that trusts can utilize various legal investment options without needing explicit approval for each strategy.
Allows broad investment strategies for trusts.
Terms like 'legal investments' authorize diverse options.
Trustees must act with prudence and discretion.
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In simple terms: Learn about Texas's LANGUAGE INVOKING STANDARD OF CHAPTER. 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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