Texas Limits Charitable Trust Relocation Without Approval

New law in Texas limits the relocation of charitable trusts outside of Texas unless the trustee secures approval from the court or the settlor authorizing a relocation of the trust.  The purpose of this statute is help remedy the orphan trust problem where a charitable donor dies and the local trustee either dies or is acquired by multinational financial institution no longer run by the people and banks familiar with the donor’s wishes.  2009 Tex. Sess. Law Serv. Ch. 754.