Estates Code section 1301.051 lists the persons who may apply for the creation of a chapter 1301 trust. This form is drafted with the guardian as applicant and should be modified as needed if the applicant is anyone other than the guardian.
[Caption. See § 3 of the Introduction in this manual.]
Application to Create Management Trust for
Benefit of [name of ward]
[Name of guardian], Applicant, guardian of the estate of [name of ward], files this Application to Create Management Trust for Benefit of Ward under chapter 1301 of the Texas Estates Code and shows the following in support:
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Describe the source of the trust estate. The following is an example. |
1.The [designation] Court of [county] County, Texas, is about to enter a judgment in Cause No. [number], styled “[style of case],” in which [name of ward], Ward, will be awarded the sum of $[amount].
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Continue with the following. |
2.Applicant is the guardian of the estate of Ward. Applicant believes that it would be in the best interests of Ward if the money awarded were held in a management trust for the benefit of Ward according to chapter 1301 of the Texas Estates Code.
3.Applicant has requested that [name of proposed trustee], Proposed Trustee, of [city], Texas, be permitted to act as trustee of this trust if the Court agrees that such a trust should be created. Applicant understands that Proposed Trustee has agreed to act as trustee. Proposed Trustee is a trust company having trust powers in the state of Texas and is therefore qualified to serve as trustee of a trust created according to chapter 1301 of the Texas Estates Code.
4.Applicant and Proposed Trustee have agreed on the terms of a proposed trust agreement that complies with the provisions of chapter 1301 of the Texas Estates Code and that accompanies this application as Exhibit [exhibit number/letter].
5.Applicant prays that the Court create a management trust for the benefit of Ward under the terms of chapter 1301 of the Texas Estates Code, that Proposed Trustee be appointed the trustee of the trust, and that approval be given for the payment from the trust of reasonable fees to Proposed Trustee for its services as trustee under the terms of the trust agreement, which accompanies this application. Applicant prays for all further relief to which Applicant may be entitled.
Respectfully submitted,
[Name]
Attorney for Applicant
State Bar No.:
[Email address]
[Address]
[Telephone]
[Telecopier]
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Attach exhibit(s). |