A trust cannot be created unless there is trust property.
Property may be added to an existing trust from any source in any manner unless the addition is prohibited by the terms of the trust or the property is unacceptable to the trustee.
CREATION, VALIDITY, MODIFICATION, AND TERMINATION OF TRUSTSSUBCHAPTER A.
TEXAS TRUST CODE: CREATION, OPERATION, AND TERMINATION OF TRUSTSCHAPTER 112.
A trust may be created by:(1) a property owner's declaration that the owner holds the property as trustee for another person;(2) a property owner's inter vivos transfer of the property to another person as trustee for the transferor or a third person;(3) a property owner's testamentary transfer to another person as trustee for a third person;(4) an appointment under a power of appointment to another person as trustee for the donee of the power or for a third person; or(5) a promise to another person whose rights under the promise are to be held in trust for a third person.
A trust is created only if the settlor manifests an intention to create a trust.
(a) The trustee must have the legal capacity to take, hold, and transfer the trust property.
If a trustee is not named or if there is no alternate trustee designated or selected in the manner prescribed in the terms of the trust, the court shall appoint a trustee on a petition of any interested person. A person named as trustee who exercises power or performs duties under the trust is presumed to have accepted the trust, except that a person named as trustee may engage in the following conduct without accepting the trust:(1) acting to preserve the trust property if, within a reasonable time after acting, the person gives notice of the rejection of the trust to:(A) the settlor; or(B) if the settlor is deceased or incapacitated, all beneficiaries then entitled to receive trust distributions from the trust; and(2) inspecting or investigating trust property for any purpose, including determining the potential liability of the trust under environmental or other law.(b) A person named as trustee who does not accept the trust incurs no liability with respect to the trust.(c) If the person named as the original trustee does not accept the trust or if the person is dead or does not have capacity to act as trustee, the person named as the alternate trustee under the terms of the trust or the person selected as alternate trustee according to a method prescribed in the terms of the trust may accept the trust. A promise to create a trust in the future is enforceable only if the requirements for an enforceable contract are present. Consideration is not required for the creation of a trust. A trust consisting of personal property, however, is enforceable if created by:(1) a transfer of the trust property to a trustee who is neither settlor nor beneficiary if the transferor expresses simultaneously with or prior to the transfer the intention to create a trust; or(2) a declaration in writing by the owner of property that the owner holds the property as trustee for another person or for the owner and another person as a beneficiary. A trust in either real or personal property is enforceable only if there is written evidence of the trust's terms bearing the signature of the settlor or the settlor's authorized agent.