Current through Acts 2023-2024, ch. 272
Section 701.0603 - Settlor's powers; powers of withdrawal(1) While a trust is revocable, the rights of the beneficiaries are subject to the control of, and the duties of the trustee, a directing party, and a trust protector are owed exclusively to, the settlor.(2) If a revocable trust has more than one settlor, the duties of the trustee, a directing party, and a trust protector are owed to all of the settlors.(3) During the period in which a power of withdrawal may be exercised, the holder of the power has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power.Added by Acts 2013SP1 ch, 92,s 116, eff. 12/15/2013.