This legislative update summarizes those bills effective on and after September 1, 2013, that we consider of interest to our clients. On August 21, 2013, we provided a legislative update for bills effective before September 1, 2013. The legislative update that follows this update will summarize the proposed constitutional amendments and, if applicable, their enabling legislation that we consider of interest to our clients. BILLS EFFECTIVE ON AND AFTER SEPTEMBER 1, 2013 1. STATUTORY DURABLE POWER OF ATTORNEY (HB 2918) Effective January 1, 2014, House Bill 2918 amends the Estates Code (formerly the Probate Code) to modify the statutory durable power of attorney form. The bill adds language to the form recommending that the principal select a trusted person to serve as the principal’s agent and specifying the general duration of an agent’s authority. The bill requires the principal to affirmatively designate on the form the powers the principal wants to grant to the agent by initialing the line(s) in front of the power(s) granted, rather than presumptively granting all general powers to the agent unless the principal affirmatively removes certain powers by crossing out each power withheld. The bill revises form provisions regarding special instructions applicable to gifts and sets out as part of the form certain important information for an agent relating to the agent’s duties, termination of the agent’s authority, and the liability of the agent. Download complete memorandum below
