Trustee Duty to Disclose

In Benge v. Thomas, a settlor created a trust and appointed her daughter, Missi, as the trustee. No. 13-18-00619-CV, 2020 Tex. App. LEXIS 6888 (Tex. App.—Corpus Christi August 27, 2020, no pet.). The trust owned an interest in a limited partnership that contained mineral interests. Missi’s daughter, Benge, was a beneficiary of the trust.

Trustees possess, manage, and control assets for beneficiaries—usually for compensation. This is significant authority and power. There are many corresponding duties: one of the most important duties is the duty to disclose information. This presentation is intended to provide the current legal authority in Texas dealing with a Trustee’s duty to disclose.

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