TX SB1218

Amends Section 113.152 of the Texas Property Code to require trust accountings to show receipts and disbursements allocated to either principal or income, rather than showing principal and income receipts separately

Creates an exception allowing trustees to skip the principal/income allocation requirement 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 accountings upon a showing of good cause, even when the exception would otherwise apply

Applies only to demands for accounting made on or after the effective date; demands made before that date remain governed by prior law

Takes effect September 1, 2025