Texas Estates Code

§ 1161.053 — APPLICABILITY OF PROCEDURE TO CERTAIN ASSETS

ES § 1161.053Title 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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The fact that an account or other asset is the subject of a specific or general gift under a ward's will, if any, or that a ward has funds, securities, or other property held with a right of survivorship does not prevent:

(1)the guardian of the estate from taking possession and control of the asset or closing the account; or

(2)the court from authorizing an action or modifying or eliminating a duty with respect to the possession, control, or investment of the account or other asset.

Legislative history

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