Texas Estates Code 1105.153 – Evidentiary Hearing On Amount of Bond
Terms Used In Texas Estates Code 1105.153
- 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.
- Person: includes a natural person and a corporation. See Texas Estates Code 22.027
- Property: means real and personal property. See Texas Government Code 311.005
- Succeeding: means immediately following. See Texas Government Code 312.011
- Ward: means a person for whom a guardian has been appointed. See Texas Estates Code 22.033
- Year: means 12 consecutive months. See Texas Government Code 311.005
Before setting the amount of a bond required of a guardian of an estate, the court shall hear evidence and determine:
(1) the amount of cash on hand and where that cash is deposited;
(2) the amount of cash estimated to be needed for administrative purposes, including the operation of a business, factory, farm, or ranch owned by the guardianship estate, and administrative expenses for one year;
(3) the revenue anticipated to be received in the succeeding 12 months from dividends, interest, rentals, or use of property belonging to the guardianship estate and the aggregate amount of any installments or periodic payments to be collected;
(4) the estimated value of certificates of stock, bonds, notes, or other securities of the ward, and the name of the depository in which the stocks, bonds, notes, or other securities are deposited;
(5) the face value of life insurance or other policies payable to the ward or the ward’s estate;
(6) the estimated value of other personal property that is owned by the guardianship, or by a person with a disability; and
(7) the estimated amount of debts due and owing by the ward.