Texas Estates Code

§ 751.122 — DUTY TO PRESERVE PRINCIPAL'S ESTATE PLAN

ES § 751.122Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part P. DURABLE POWERS OF ATTORNEY · Ch. 751. GENERAL PROVISIONS REGARDING DURABLE POWERS OF ATTORNEY · Art. C-1. OTHER DUTIES OF AGENT

Statute text

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An agent shall preserve to the extent reasonably possible the principal's estate plan to the extent the agent has actual knowledge of the plan if preserving the plan is consistent with the principal's best interest based on all relevant factors, including:

(1)the value and nature of the principal's property;

(2)the principal's foreseeable obligations and need for maintenance;

(3)minimization of taxes, including income, estate, inheritance, generation-skipping transfer, and gift taxes; and

(4)eligibility for a benefit, a program, or assistance under a statute or regulation.

Legislative history

Added by Acts 2017, 85th Leg., R.S., Ch. 834 (H.B. 1974), Sec. 5, eff. September 1, 2017.