Texas Estates Code

§ 1356.054 — SET-ASIDE AND PRESERVATION OF PORTION OF NET EARNINGS

ES § 1356.054Title 3. GUARDIANSHIP AND RELATED PROCEDURES · Part I. OTHER SPECIAL PROCEEDINGS AND SUBSTITUTES FOR GUARDIANSHIP · Ch. 1356. COURT APPROVAL OF CERTAIN ARTS AND · Art. B. COURT ACTION REGARDING CERTAIN CONTRACTS

Statute text

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(a)Notwithstanding any other law, in an order issued under Section 1356.051, the court may require that a portion of the net earnings of the minor under the contract be set aside and preserved for the benefit of the minor in a trust created under Section 1301.053 or 1301.054 or a similar trust created under the laws of another state.

(b)The amount to be set aside under this section must be reasonable as determined by the court.

Legislative history

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