Texas Estates Code

§ 1161.052 — COURT ACTION

ES § 1161.052Title 3. GUARDIANSHIP AND RELATED PROCEDURES · Part E. ADMINISTRATION OF GUARDIANSHIP · Ch. 1161. INVESTMENTS AND LOANS OF ESTATES OF WARDS · Art. B. PROCEDURE FOR MAKING INVESTMENTS OR LOANS OR RETAINING ESTATE ASSETS

Statute text

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(a)If the court determines that the action requested in the application is in the best interests of the ward and the ward's estate, the court shall issue an order:

(1)granting the authority requested in the application; or

(2)modifying or eliminating the guardian's duty to keep the estate invested.

(b)An order under Subsection (a) must state in reasonably specific terms:

(1)the nature of the investment, investment plan, or other action requested in the application and authorized by the court, including any authority to invest in and sell securities in accordance with the investment plan's objectives;

(2)when an investment must be reviewed and reconsidered by the guardian; and

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Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.