Article by: Bryan A. Phillips
Bryan A. Phillips recently published Texas Purpose Trusts: Two Years Later in the Real Estate, Probate, and Trust Law Reporter (Vol. 63, No. 4). The article examines the practical implications of Texas House Bill 2333 — the 2023 legislation enabling “purpose trusts,” a structure that allows grantors to place assets in trust for a stated mission rather than for named beneficiaries. Bryan walks through planning applications, key governance considerations, and the unresolved tax questions practitioners should understand before advising clients on this still-developing area of Texas law.