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Rules of Trust Administration in Texas

Understand the duties and powers of trustees and the laws surrounding trust administration in Texas.Although trusts are a common vehicle to hold and transfer assets, many professionals either avoid trusts or delegate trust-related work for fear of being uninformed and ill-equipped in trust mechanics. This topic will equip professionals with a better understanding of the duties and powers of Texas trustees and the laws surrounding trust administration in Texas. The content will outline the necessary administrative steps to take when an individual creates a trust in his or her will, what to do when the settlor of a grantor trust dies, and what options are available if the trust is not working’. The topic will also update you with recent changes made by the legislature relating to trust administration. This information will give professionals confidence and familiarity to incorporate trusts in their clients’ estate planning and provide them with the skills to administer trusts efficiently and effectively.


Runtime: 90 minutes
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Trustee Duties Under the Texas Trust Code

  • General Trustee Duties
  • Trustee Liability

Administering the Trust

  • Investing Trust Assets
  • Distribution of Trust Assets
  • Accounting, Record Keeping, Tax Reporting

Trust Modification

  • Amending Revocable Trusts
  • Decanting
  • Judicial Modification of Trusts

Steps to Follow After a Client Passes

  • Grantor Trusts
  • Testamentary Trusts

Texas Legislative Updates

  • Directed Trusts
  • Trust Protectors
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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Online Manual

No credit available.

OnDemand Webinar

This course was last revised on December 14, 2016.

Call 1-866-352-9540 for further credit information.

  • TX MCLE 1.5 including Estate Planning and Probate Law 1.5; Tax Law 1.5
     
  • This program has been approved for Minimum Continuing Legal Education credit by the State Bar of Texas Committee on MCLE in the amount of 1.5 credit hours. Lorman Education Services is an accredited sponsor, approved by the State Bar of Texas, Committee on MCLE. This course is eligible for specialization credits in the area(s) of Estate Planning and Probate Law for 1.50 hours and Tax Law for 1.50 hours. This program has been approved by the Texas State Bar College for 1.5 hours of CLE credit.
     
  • TX CPE 1.5
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.5 hours of continuing professional education.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

Audio & Reference Manual

No credit available.

MP3 Download

No credit available.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

William R. Hayes

William R. Hayes

Hayes & Wilson, PLLC

  • Attorney with the Hayes & Wilson, PLLC firm practicing in Houston
  • Frequent speaker on estate planning, charitable gifting, disability planning, elder law and Medicaid topics to a variety of professional, business and civic organizations
  • Practice is focused on wills, trusts, estate planning, probate and estate administration, guardianships, disability planning, and elder law and charitable giving
  • Active in many professional, civic and charitable organizations, including serving the Houston Bar Association as co-chair of the Elder Law Committee and chair of the Fee Dispute Committee, for which he received the HBA President’s Award in 2004
  • Board certified in estate planning and probate by the Texas Board of Legal Specialization
  • J.D. and B.B.A. degrees, Southern Methodist University
  • Can be contacted at 713-880-3939 or [email protected]
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 399058
Published 2012, 2016
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