1. (a) Except as provided by Subsection (a-1), if the person for whom a management trust is created is a minor, the trust terminates on:

   1. (1) the earlier of:

      1. (A) the person's death; or
      2. (B) the person's 18th birthday; or
   2. (2) the date provided by court order, which may not be later than the person's 25th birthday.

2. (a-1) If the person for whom a management trust is created is a minor and is also incapacitated for a reason other than being a minor, the trust terminates:

   1. (1) on the person's death; or
   2. (2) when the person regains capacity.

3. (b) If the person for whom a management trust is created is not a minor, the trust terminates:

   1. (1) according to the terms of the trust;
   2. (2) on the date the court determines that continuing the trust is no longer in the person's best interests, subject to Section 1301.202(c); or
   3. (3) on the person's death.

Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.

Acts 2013, 83rd Leg., R.S., Ch. 161 (S.B. 1093), Sec. 6.072, eff. January 1, 2014.

Acts 2021, 87th Leg., R.S., Ch. 521 (S.B. 626), Sec. 63, eff. September 1, 2021.