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Bill

HB 3405

Relating to the contents of a trust accounting.

89th Legislature (2025) Introduced by Richard Hayes

HB 3405 modifies trust accounting disclosure requirements in Texas, adjusting what financial information trustees must report to beneficiaries in periodic statements.

Referred to Business & Commerce
#propertyinterests--trusts(i0008)
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Bill Summary · HB 3405

Legislative bill overview

HB 3405 modifies Texas law regarding what information must be included in trust accountings—the financial statements trustees provide to beneficiaries. The bill adjusts disclosure requirements for trustees managing trust assets, likely streamlining or clarifying which details must be reported to beneficiaries during periodic accountings.

Why is this important

Trust accountings are critical documents that give beneficiaries visibility into how their assets are being managed and spent. Clear rules about what must be disclosed protect beneficiaries from mismanagement while also establishing expectations for trustees, which has real financial consequences for families and estates across Texas.

Potential points of contention

  • Beneficiary protection vs. trustee burden: Reducing disclosure requirements could give trustees more flexibility but may limit beneficiaries' ability to detect mismanagement or self-dealing
  • Consistency across trust types: The bill may create different standards for different types of trusts, potentially leaving some beneficiaries with less transparency than others
  • Definition clarity: Ambiguity about which accounts or transactions qualify as "contents" could lead to inconsistent interpretation and disputes between trustees and beneficiaries

Compiled from official sources — confirm details with the bill’s official record.

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