Texas SB1218 amends trust accounting requirements to include detailed allocations of receipts and disbursements.

Texas SB1218 modifies the Property Code to enhance the contents of a trust accounting. It mandates that a written statement of accounts must detail all trust property, transactions, asset descriptions, cash balances, and liabilities. The bill allows courts to compel trustees to allocate certain receipts and disbursements to principal or income, even if the distribution standards and beneficiaries are the same. These changes apply to demands for accounting made after the bill's effective date of September 1, 2025.

Texas SB1218 amends trust accounting requirements to include detailed allocations of receipts and disbursements.

Texas SB1218 modifies the Property Code to enhance the contents of a trust accounting. It mandates that a written statement of accounts must detail all trust property, transactions, asset descriptions, cash balances, and liabilities. The bill allows courts to compel trustees to allocate certain receipts and disbursements to principal or income, even if the distribution standards and beneficiaries are the same. These changes apply to demands for accounting made after the bill's effective date of September 1, 2025.