Tex.
Prop. Code Section 142.010
Transfer of Trust Property to a Pooled Trust Subaccount
(a)
In this section, “management trust” means a trust created for a beneficiary in accordance with Section 142.005 (Trust for Property).(b)
If the court with continuing jurisdiction over a management trust determines that it is in the best interests of the beneficiary for whom the management trust is created, the court may order the transfer of all property in the management trust to a pooled trust subaccount established in accordance with Chapter 143 (Pooled Trust Subaccounts).(c)
For purposes of a proceeding to determine whether to transfer property from a management trust to a pooled trust subaccount, the court may, but is not required to, appoint an attorney ad litem or guardian ad litem to represent the interests of a management trust beneficiary who has a physical disability and is not an incapacitated person. The attorney ad litem or the guardian ad litem is entitled to a reasonable fee and reimbursement of expenses to be paid from the management trust property.(d)
The transfer of property from the management trust to the pooled trust subaccount shall be treated as a continuation of the management trust and may not be treated as the establishment of a new trust for purposes of 42 U.S.C. Section 1396p(d)(4)(A) or (C) or otherwise for purposes of the management trust beneficiary’s eligibility for medical assistance under Chapter 32 (Medical Assistance Program), Human Resources Code.(e)
The court may not allow termination of the management trust from which property is transferred under this section until all of the property in the management trust has been transferred to the pooled trust subaccount.
Source:
Section 142.010 — Transfer of Trust Property to a Pooled Trust Subaccount, https://statutes.capitol.texas.gov/Docs/PR/htm/PR.142.htm#142.010 (accessed May 25, 2024).
