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Terms Used In Texas Estates Code 1161.005

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Court: means and includes:
    (1) a county court in the exercise of its probate jurisdiction;
    (2) a court created by statute and authorized to exercise original probate jurisdiction; and
    (3) a district court exercising original probate jurisdiction in a contested matter. See Texas Estates Code 22.007
  • Estate: means a decedent's property, as that property:
    (1) exists originally and as the property changes in form by sale, reinvestment, or otherwise;
    (2) is augmented by any accretions and other additions to the property, including any property to be distributed to the decedent's representative by the trustee of a trust that terminates on the decedent's death, and substitutions for the property; and
    (3) is diminished by any decreases in or distributions from the property. See Texas Estates Code 22.012
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Ward: means a person for whom a guardian has been appointed. See Texas Estates Code 22.033

On a showing by clear and convincing evidence that the action is in the best interests of the ward and the ward’s estate, the court may modify or eliminate:
(1) the duty of the guardian of the estate to keep the estate invested; or
(2) the standard required by Section 1161.002(a) with regard to investments of estate assets.