143.002 – APPLICATION TO ESTABLISH SUBACCOUNT. The
Texas Property Code § 143.002
Summary
This law allows certain individuals, such as trustees or guardians, to apply to the court to create a subaccount for a beneficiary who is eligible for a management trust. It ensures that the funds in the subaccount are specifically designated for the benefit of that individual.
Applies to trustees and guardians of beneficiaries.
Subaccounts are for individuals eligible for management trusts.
Requires court approval for establishment.
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In simple terms: Learn about Texas's APPLICATION TO ESTABLISH SUBACCOUNT. 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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