Modification is needed to make this procedure and these criteria apply. Modification is important. Irrelevant if more than one month has passed since the guardian's letters were granted, unless a successor guardian is later appointed. Modification is beneficial but not important. Establishes superpriority for payment of administrative claims in an insolvent guardianship estate.
Modification is very important.
Without modification, claims for the ward's care and maintenance, expenses of last illness and funeral expenses come before administrative claims. With modification, administrative claims leapfrog over those competing claims. 856 HB 1316 Guardian can invest in the Texas Tomorrow Fund with court approval. It is probably a good idea to modify existing guardianships so that this option is available, but it is not essential since a court order approving this investment is required. Modification is beneficial but not essential.