TX HB3405

Amends Section 113.152 of the Texas Property Code to require trust accountings to allocate each receipt and disbursement to either principal or income

Creates an exception allowing trustees to skip principal/income allocation when the distribution standard and beneficiaries are the same for both principal and income

Grants courts authority to compel trustees to include principal and income allocations in required accountings upon a showing of good cause, even when the exception would otherwise apply

Applies only to demands for accounting made on or after September 1, 2025; earlier demands remain governed by prior law