Termination of Trust

Sec. 1301.203. TERMINATION OF TRUST. (a) Except as provided by Subsection (a-1), if the person for whom a management trust is created is a minor, the trust terminates on: (1) the earlier of: (A) the person's death; or (B) the person's 18th birthday; or (2) the date provided by court order, which may not be later than the person's 25th birthday. (a-1) If the person for whom a management trust is created is a minor and is also incapacitated for a reason other than being a minor, the trust terminates: (1) on the person's death; or (2) when the person regains capacity. (b) If the person for whom a management trust is created is not a minor, the trust terminates: (1) according to the terms of the trust; (2) on the date the court determines that continuing the trust is no longer in the person's best interests, subject to Section 1301.202(c); or (3) on the person's death. Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 161 (S.B. 1093), Sec. 6.072, eff. January 1, 2014. Acts 2021, 87th Leg., R.S., Ch. 521 (S.B. 626), Sec. 63, eff. September 1, 2021.