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

Additionally, the bill modifies the language regarding the nondisclosure period of trusts, stating that rights of qualified trust beneficiaries apply during this period unless otherwise specified in the trust terms. It also emphasizes the rights of the Attorney General concerning charitable trusts, ensuring they have the authority to oversee and be notified of relevant judicial proceedings. Overall, 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