Texas Estates Code 1155.007 – Reduction or Elimination of Estimated Quarterly Compensation
Current as of: 2024 | Check for updates
|
Other versions
(a) A court that authorizes payment of estimated quarterly compensation under § 1155.006(a) may later reduce or eliminate the guardian‘s compensation if, on review of an annual or final accounting or otherwise, the court finds that the guardian:
(1) received compensation in excess of the amount permitted under this subchapter;
(2) has not adequately performed the duties required of a guardian under this title; or
(3) has been removed for cause.
(b) If a court reduces or eliminates a guardian’s compensation as provided by Subsection (a), the guardian and the surety on the guardian’s bond are liable to the guardianship estate for any excess compensation received.
Terms Used In Texas Estates Code 1155.007
- 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 - 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.
- Surety: includes a personal surety and a corporate surety. See Texas Estates Code 22.032