[Caption. See § 3 of the Introduction in this manual.]
Order Approving Final Account and Directing Funding of Restated Management Trust
On [date] the Court heard the Application for Termination of Original Management Trust, Discharge of Trustee of Original Management Trust, Creation of Restated Management Trust, and Appointment of Trustee of Restated Management Trust filed jointly by [name of guardian applicant] and [name of trustee applicant] regarding a management trust created by order of the Court dated [date] for [name of ward], Ward, an incapacitated person, pursuant to chapter 1301 of the Texas Estates Code.
By order dated [date] the Court created a management trust for Ward pursuant to chapter 1301 of the Texas Estates Code, appointed [name of successor trustee] as sole trustee of the Restated Management Trust, and directed [name of trustee applicant] to file its Final Account as trustee of the Original Management Trust.
On [date] the Court further considered the application and considered the Final Account filed by [name of trustee applicant]. The Court has examined the Final Account and the vouchers accompanying it, has heard all evidence in support of and against the Final Account, and has duly audited and settled the Final Account. The Court has reviewed the waiver of notice of hearing on the Final Account filed by [name of guardian applicant], guardian of the person of Ward. The Court has considered the evidence presented and the argument of counsel. There being no exceptions or objections to the Final Account or the application, the Court makes the following findings:
1.Citation has been served in the manner required by law.
2.It is in the best interests of Ward to transfer to the Restated Management Trust all the property now being administered by [name of trustee applicant] as trustee of the Original Management Trust.
3.[Name of trustee applicant] has administered the Original Management Trust in accordance with the Texas Estates Code and the orders of this Court.
4.All expenditures for Ward listed in the Final Account were reasonable and their payment should be ratified.
5.[Name of trustee applicant] has waived all commissions and other compensation it would otherwise be entitled to receive from the Original Management Trust.
IT IS THEREFORE ORDERED that the Final Account for the period ending [date], filed with this Court by [name of trustee applicant], is hereby approved.
IT IS FURTHER ORDERED that all expenditures made by [name of trustee applicant] during the accounting period listed in the Final Account are hereby ratified and approved.
IT IS FURTHER ORDERED that [name of trustee applicant] receive no commission or other compensation or any reimbursement for its attorney’s fees incurred with regard to this matter.
IT IS FURTHER ORDERED that [name of trustee applicant] deliver all the remaining funds and other property in the trust estate (including any income or interest), as set forth in the Final Account, to [name of successor trustee] to be held and disposed of for [name of ward] pursuant to chapter 1301 of the Texas Estates Code and in accordance with the terms of Restated Management Trust previously approved by the Court.
IT IS FURTHER ORDERED that [name of successor trustee] pay from the assets of the Restated Management Trust the court costs, legal fees, and other expenses incurred by it and by [name of trustee applicant] incident to the termination of the Original Management Trust and the establishment of the Restated Management Trust.
IT IS FURTHER ORDERED that [name of successor trustee] annually submit an account of its actions in the same form as would be required of a guardian of a ward’s estate to this Court for its review and approval and to any then-serving guardian of [name of ward]’s person or estate.
IT IS FURTHER ORDERED that [name of successor trustee] submit to this Court annually an application for approval of [name of successor trustee]’s compensation for the services that [name of successor trustee] provided to [name of ward] as the ward’s trustee. The appropriateness of [name of successor trustee]’s compensation will be determined in accordance with the orders of this Court and in the same manner as compensation of a guardian of an estate under section 1155.002 of the Texas Estates Code and any applicable successor statute.
IT IS FURTHER ORDERED that, after all the remaining funds and other property in the Original Management Trust (including any income or interest) as set forth in the Final Account have been delivered to [name of successor trustee], [name of trustee applicant] file its Application to Discharge Trustee.
SIGNED on ________________________________.
JUDGE PRESIDING
APPROVED AS TO FORM:
[Name]
Attorney for Guardian
State Bar No.:
[Email address]
[Address]
[Telephone]
[Telecopier]
[Name]
Attorney for Trustee
State Bar No.:
[Email address]
[Address]
[Telephone]
[Telecopier]