Texas Property Code

§ 121.053 — VALIDITY OF TRUST DECLARATION

PR § 121.053Title 9. TRUSTS · Part C. MISCELLANEOUS TRUSTS · Ch. 121. EMPLOYEES' TRUSTS · Art. B. DEATH BENEFITS UNDER EMPLOYEES' TRUSTS

The validity of a trust agreement or declaration is not affected by:

(1)the absence of a corpus other than the right of the trustee to receive a death benefit as beneficiary;

(2)the employee's reservation of the right to designate another beneficiary of the death benefit; or

(3)the existence of authority to amend, modify, revoke, or terminate the agreement or declaration.

Legislative history

Acts 1983, 68th Leg., p. 3693, ch. 576, Sec. 1, eff. Jan. 1, 1984.