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Texas Estates Code - EST § 1302.005. Terms of Subaccount

Current as of January 01, 2024 | Updated by Findlaw Staff

Unless the court orders otherwise, the terms governing the subaccount must provide that:

(1) the subaccount terminates on the earliest of the date of:

(A) the beneficiary's 18th birthday, if the beneficiary is not disabled on that date and was a minor at the time the subaccount was established;

(B) the beneficiary's death;  or

(C) a court order terminating the subaccount;  and

(2) on termination, any property remaining in the beneficiary's subaccount after making any required payments to satisfy the amounts of medical assistance reimbursement claims for medical assistance provided to the beneficiary under this state's medical assistance program and other states' medical assistance programs shall be distributed to:

(A) the beneficiary, if on the date of termination the beneficiary is living and is not incapacitated;

(B) the beneficiary's guardian, if on the date of termination the beneficiary is living and is incapacitated;  or

(C) the personal representative of the beneficiary's estate, if on the date of termination the beneficiary is deceased.

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Cite this article: FindLaw.com - Texas Estates Code - EST § 1302.005. Terms of Subaccount - last updated January 01, 2024 | https://codes.findlaw.com/tx/estates-code/est-sect-1302-005/

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