Legislative Update: New Vulnerable Persons and POA Statutes

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On October 26, 2017, David F. Johnson presented “Legislative Update Impacting Fiduciaries,” to the Texas Bankers Association’s Advanced Trust & Portfolio Management Forum in San Antonio, Texas. This presentation discussed new statutory changes to the Texas Durable Power of Attorney Act that create duties to accept power of attorney transactions and that broaden agents’ authority to act. The presentation also discussed the new financial exploitation of vulnerable persons statutes that place duties to report suspected financial exploitation on financial institutions, brokers, and financial advisors. The presentation paper, exhibits and slides are attached below.

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