Texas Estates Code 1101.156 – Deposit of Estate Assets
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(a) At the time or after an order appointing a guardian is signed by the court but before letters of guardianship are issued, a court may, on the request of a party, require the deposit for safekeeping of cash, securities, or other assets of a ward or proposed ward in a financial institution described by § 1105.155(b).
(b) The amount of the bond required to be given by the guardian under § 1105.101 shall be reduced in proportion to the amount of the cash or the value of the securities or other assets deposited under this section.
Terms Used In Texas Estates Code 1101.156
- 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 - 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.
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
- Ward: means a person for whom a guardian has been appointed. See Texas Estates Code 22.033