[Caption. See § 3 of the Introduction in this manual.]
Order Creating Management Trust for
Benefit of [name of ward]
On [date] the Court considered the application of [name of guardian], the guardian of the estate of [name of ward], Ward, requesting that the Court establish a management trust for Ward under chapter 1301 of the Texas Estates Code. The Court considered the evidence presented and the argument of counsel and reviewed the terms of the trust agreement attached to this Order as Exhibit [exhibit number/letter] and hereby finds that Ward is an incapacitated person; the trust is in the best interests of Ward and should be created under the authority of chapter 1301 of the Texas Estates Code; [name of trustee], Trustee, the proposed trustee of the Trust, is a trust company having trust powers in Texas and therefore is qualified to serve as trustee of a trust created under chapter 1301 of the Texas Estates Code; Trustee on receipt of the [include if applicable: settlement proceeds and other] assets of Ward’s estate will assume the full responsibility, liability, and expense of making distributions, trust investments, and accounts for all trust assets and all receipts and disbursements of the trust; and Trustee should be allowed reasonable compensation for its services as trustee.
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Include the following if applicable. |
IT IS THEREFORE ORDERED that any funds awarded to [name of ward] by any judgment or order in Cause No. [number], styled “[style of case],” in the [designation] Court of [county] County, Texas, will be held in trust for the benefit of [name of ward], according to chapter 1301 of the Texas Estates Code and the terms of the trust agreement.
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Continue with the following. |
IT IS [FURTHER/THEREFORE] ORDERED that [name of trustee] of [city], Texas, is hereby appointed the trustee of the trust created by the trust agreement and, on acceptance by the trustee of the trust, all sums awarded to [name of ward] will be paid to [name of trustee] for the benefit of [name of ward].
IT IS FURTHER ORDERED that [name of guardian] will prepare and file with this Court, for its review and approval, a final account as guardian of [name of ward]’s estate, and when the final account is approved, the guardianship of [name of ward]’s estate will be closed, but this cause will be retained on the Court’s docket for compliance with the provisions of chapter 1301 of the Texas Estates Code, including annual accounts and trustee compensation, until closed by order of this Court.
IT IS FURTHER ORDERED that approval is hereby granted to [name of trustee] to charge a fee for its trust services at the rates and in the manner provided in the fee schedule attached to the trust agreement, these being reasonable fees as provided under subchapter A of chapter 1155 of the Texas Estates Code; however, these fees are subject to the annual review and approval of the Court.
IT IS FURTHER ORDERED that [name of trustee] will prepare and file with this Court for its review and approval, an annual account of assets and transactions in the trust, with a copy of the annual account to be provided to the guardian of the person of [name of ward].
SIGNED on ________________________________.
JUDGE PRESIDING
APPROVED AS TO FORM:
[Name]
Attorney for Applicant
State Bar No.:
[Email address]
[Address]
[Telephone]
[Telecopier]
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Include if applicable. |
[Name]
Attorney Ad Litem
State Bar No.:
[Email address]
[Address]
[Telephone]
[Telecopier]
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Attach exhibit(s). |