The bill amends the "Estates and Protected Individuals Code" by updating sections 7105 and 7110. It clarifies the governance of trustee duties, powers, and the rights of trust beneficiaries, emphasizing that the terms of a trust will take precedence over certain provisions of the article, with specific exceptions outlined. Notably, it introduces new language regarding the rights of charitable organizations named in trusts, ensuring they are recognized as qualified trust beneficiaries under specific conditions.

Additionally, the bill modifies the language concerning the nondisclosure period of trusts, stating that individuals with certain rights during this period will also be considered qualified trust beneficiaries. It also includes provisions that grant the Attorney General rights related to charitable trusts, ensuring oversight and notification of judicial proceedings. The amendments aim to enhance clarity and protect the interests of beneficiaries and trustees within the framework of trust law.

Statutes affected:
House Introduced Bill: 700.7105, 700.7110