pjc-family-2024-lib

PJC 235.2

E XPRESS T RUSTS

ter 112 of the Texas Property Code, amended the definition of “express trust” to include a noncharitable trust created for a particular purpose without a designated ben eficiary. See Acts 2023, 88th Leg., R.S., ch. 1121, § 1 (H.B. 2333), eff. June 18, 2023. The Code does not define “particular purpose” but states that “a noncharitable purpose may include seeking economic or noneconomic benefits.” Tex. Prop. Code § 112.121. In situations where the existence of a trust for a particular purpose is at issue, use the following in place of the definition in the charge above: A trust is a special relationship that arises when the settlor shows an intent to create a relationship that requires one person to hold property for a particular purpose.

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